Nasir played the last of his 17 international Test matches against South Africa in 2015.
Pacer Shafiul’s last match was against England in October 2016.
Bangladesh Cricket Board chief selector Minhajul Abedin announced the squad on Saturday at the Sher-e-Bangla National Cricket Stadium in Dhaka.
The first match in Bangladesh’s two-Test series with Australia will begin on Aug 27 in Dhaka.
Bangladesh squad for first test:
Tamim Iqbal Soumya Sarkar, Imrul Kayes, Mushfiqur Rahim, Shakib Al Hasan, Mehedi Hasan, Sabbir Rahman, Mossadek Hossain, Mustafizur Rahman, Liton Das, Shafiul Islam, Taijul Islam, Taskin Ahmed, Nasir Hossain.