Strikers captain Travis Head and wicketkeeper Alex Carey feature in both squads, while fast bowler Billy Stanlake will be included in just the T20I series.
Left-hander Carey was named vice-captain of the T20I squad supporting skipper Aaron Finch and Australian Test captain Tim Paine will lead the ODI team.
Carey made his ODI and T20I debut for Australia last summer after a record-breaking BBL|07 season with the Adelaide Strikers. The 26-year-old hit the most runs by a Striker (443) and claimed the most dismissals as a wicketkeeper (14) in a single tournament.
Cricket Australia National Selector Trevor Hohns praised Carey’s recent white-ball form.
“Alex is a very smart one-day player who can also bat anywhere in the order,” he said.
“With Tim (Paine) in the side Alex will be the back-up wicket-keeper, but we believe his game is strong enough to play as a batter only.”
Head continues to shine in all formats and looms as a key cog in Australia’s batting lineup.
The 24-year-old compiled an impressive 96 from just 107 balls in the Australia Day ODI at Adelaide Oval earlier this year and was also selected in Australia’s T20I tri-series squad in its dominant victory over England and New Zealand.
Head starred in his first season as Strikers skipper with three half-centuries from nine matches.
Towering quick Stanlake last featured in international cricket earlier this year as part of Australia’s successful T20I tri-series campaign, where he took eight wickets from five matches.
The 204cm tall 23-year-old collected 11 wickets at 22.36 for the Strikers during BBL|07 and already has two ODIs and six T20Is to his name.
Australia play two warm-up matches at Hove (7 June) and Lord’s (9 June) before the opening ODI at The Oval on 13 June.
Australian ODI squad
Tim Paine (c) - Tasmania
Aaron Finch (vc) - Victoria
Ashton Agar - Western Australia
Alex Carey - South Australia
Josh Hazlewood - New South Wales
Travis Head - South Australia
Nathan Lyon - New South Wales
Glenn Maxwell - Victoria
Shaun Marsh - Western Australia
Jhye Richardson - Western Australia
Kane Richardson - South Australia
D’Arcy Short - Western Australia
Billy Stanlake - Queensland
Marcus Stoinis - Western Australia
Andrew Tye - Western Australia
Australian T20I squad
Aaron Finch (c) - Melbourne Renegades
Alex Carey (vc) - Adelaide Strikers
Ashton Agar - Perth Scorchers
Travis Head - Adelaide Strikers
Nic Maddinson - Melbourne Stars
Glenn Maxwell - Melbourne Stars
Jhye Richardson - Perth Scorchers
Kane Richardson - Melbourne Renegades
D’Arcy Short - Hobart Hurricanes
Billy Stanlake - Adelaide Strikers
Marcus Stoinis - Melbourne Stars
Mitchell Swepson - Brisbane Heat
Andrew Tye - Perth Scorchers
Jack Wildermuth - Melbourne Renegades