Mishra had to sit out of the Bangladesh Test owing to a knee injury, which had prompted selectors to bring in Kuldeep Yadav as cover.
With Mishra still not fit, the selection committee, headed by MSK Parasad, retained Yadav in the 16-member squad for the first two games against Australia.
The matches are to be played in Pune (February 23-27) and Bangalore (March 4-8) respectively.
Pacer Mohammed Shami, who was undergoing rehabilitation with the team before being forced to leave for him owing to his father's death, has also not found a place in the squad. Shami had undergone a surgery to recuperate from a career-threatening knee injury.
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Murali Vijay, KL Rahul, Cheteshwar Pujara, Karun Nair, R Ashwin and Ravindra Jadeja were automatic choices. The pace trio of Ishant Sharma, Bhuvneshwar Kumar and Umesh Yadav also picked itself.
Wriddhiman Saha continued to be the team's first-choice wicketkeeper. Opener Abhinav Mukund has also been retained in the side even though he did not play in the match against Bangladesh.
The Virat Kohli-led Indians, who are on a 19-match unbeaten streak, are scheduled to play four Tests against Australians.
The squad for first two Tests against Australia:
Virat Kohli (Captain), M Vijay, KL Rahul, Cheteshwar Pujara, Ajinkya Rahane, W Saha (wk), R Ashwin, R Jadeja, Ishant Sharma, Bhuvneshwar Kumar, Umesh Yadav, Karun Nair, Jayant Yadav, Kuldeep Yadav, Abhinav Mukund and Hardik Pandya.