Captain Sam Warburton, Leigh Halfpenny, Rhys Webb and Richard Hibbard all return from injury to take their place in the starting XV.
Halfpenny returns to the Wales team after missing the last three tests through injury and lines-up in a back-three alongside Alex Cuthbert and Liam Williams.
The centre partnership comprises of Jamie Roberts and George North, the same centre pairing that faced France at the Millennium Stadium in the Six Nations.
Ospreys half-back pair of Rhys Webb and Dan Biggar start at nine and ten respectively.
In the front-row Bath prop Paul James, who has featured in every game for Wales this calendar year, starts at loose-head alongside the returning Richard
Hibbard and Scarlets tight-head Samson Lee.
Jake Ball packs down alongside Alun Wyn Jones in the second-row, whilst the back-row features British and Irish Lions trio Dan Lydiate, captain Sam Warburton and Number 8 Taulupe Faletau.
Wales' last eight matches against the Wallabies have ended in single figure defeats but head coach Warren Gatland is hopeful that run can be ended.
"We have spoke a lot about this autumn and the year ahead and we are really excited to kick off the campaign this weekend,” said Gatland.
"We have had a couple of very hard weeks at training, the squad have been put their paces but come have come through well.
"It's good to be able to bring back a number of players who missed the last two tests and they add to what is a very experienced side.
"Injuries in the midfield means we get to see Jamie and George line-up together there again and we were pleased with how that went earlier in the year.
"We have been impressed with the form of Rhys and Dan at half-back for the Ospreys so it will be good to see hem together on this stage again.
"Paul James and Jake Ball have impressed as well so they get the nod to start.
"The last few outings against Australia have been extremely tight, we are expecting the same this weekend and its going to be another huge battle but it's a challenge we are really looking forward to.”
Ospreys hooker Scott Baldwin, Gethin Jenkins and Rhodri Jones comprise the front-row replacements alongside fellow forwards Bradley Davies and Justin Tipuric. Mike Phillips, Rhys Priestland and Cory Allen are named as the backs cover.
WALES TEAM TO PLAY AUSTRALIA:
Leigh Halfpenny (Toulon), Alex Cuthbert (Cardiff Blues), George North (Northampton Saints), Jamie Roberts (Racing Metro), Liam Williams (Scarlets), Dan Biggar (Ospreys), Rhys Webb (Ospreys), Paul James (Bath), Richard Hibbard (Gloucester), Samson Lee (Scarlets), Jake Ball (Scarlets), Alun Wyn Jones (Ospreys), Dan Lydiate (Unattached), Sam Warburton (Capt), Taulupe Faletau (Newport Gwent Dragons).
Replacements: Scott Baldwin (Ospreys), Gethin Jenkins (Cardiff Blues), Rhodri Jones (Scarlets), Bradley Davies (London Wasps), Justin Tipuric (Ospreys), Mike Phillips (Racing Metro), Rhys Priestland (Scarlets), Cory Allen (Cardiff Blues).
