The 15-man selection sees the return of several players including captain Brendon McCullum and bowling spearhead Tim Southee who missed the recent tour of Africa.
Ross Taylor, Trent Boult and Corey Anderson are also back in the side after recovering from injury.
Anderson is one of two all-rounders, along with Jimmy Neesham, as New Zealand tweak the balance of their squad for the Test campaign after seven consecutive series without defeat.
Coach Mike Hesson said the ability of Anderson and Neesham at the bowling crease persuaded the selectors to carry only four frontline fast bowlers -- Southee, Boult, Matt Henry and Doug Bracewell.
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"Rather than having an extra fast bowler not playing in Australia, we thought it more prudent for those in contention to remain in New Zealand and be playing domestic cricket."
Mark Craig is the sole spinner in the squad while Luke Ronchi has retained his place as the back-up wicketkeeper to BJ Watling.
The first Test against Australia starts in Brisbane on November 5.
New Zealand squad:
Brendon McCullum (captain), Corey Anderson, Trent Boult, Doug Bracewell, Mark Craig, Martin Guptill, Matt Henry, Tom Latham, James Neesham, Luke Ronchi, Hamish Rutherford, Tim Southee, Ross Taylor, BJ Watling, Kane Williamson.