Senior batsman Mike Hussey, who stayed at home and missed Australia's recent one-day tour of England after the premature birth of his child, was selected in both squads for the three ODIs and three Twenty20s in the UAE.
Ferguson played for Australia last year after a serious knee injury in 2009 hampered what appeared to be a budding international career.
"The selection panel is keen to facilitate Callum's return to consistent good form and has included him in the squad," chief selector John Inverarity said.
"We anticipate that he will benefit greatly from being in the team environment and any opportunities that may come his way.
"The ODI squad has a strong development aspect to it. Shane Watson and Ben Hilfenhaus have not been included and Brett Lee has retired.
"This will provide development opportunities for others and allow Shane and Ben to complete a more thorough strength and conditioning programme before embarking on a very demanding schedule."
Instead all-rounder Watson (calf) and swing bowler Hilfenhaus both will play in the T20s segment of the UAE tour.
Cameron White's international T20 exile is also set to come to an end just six months after losing the captaincy to George Bailey.
Peter Forrest was a notable omission with the 26-year-old batsman dropped from the ODI squad after posting poor scores of 3, 0 and 12 in his three innings against England.
Glenn Maxwell, an off-spinning all-rounder, will make his international debut after starting out with Victoria during the 2009-10 domestic campaign.
Maxwell is one of three spinners in Australia's T20 squad along with veteran Brad Hogg and Xavier Doherty.
Pat Cummins, who is recovering from a side strain which forced him home early from England, was named in the T20 squad.
Inverarity said Australia's squad for the ICC World T20 will be announced on August 17 and the squad bound for the UAE will provide a strong indicator to this Sri Lankan tournament.
The ODI series will start in Sharjah on August 28, with the first T20 to be played in Dubai on September 5.
Australia ODI squad: Michael Clarke (cart), David Warner (vice-cart), George Bailey, Dan Christian, Xavier Doherty, Callum Ferguson, David Hussey, Michael Hussey, Mitchell Johnson, Glenn Maxwell, Clint McKay, James Pattinson, Steven Smith, Mitchell Starc, Matthew Wade (wkt).
T20 squad: George Bailey (cart), Shane Watson (vice-cart), Dan Christian, Pat Cummins, Xavier Doherty, Ben Hilfenhaus, Brad Hogg, David Hussey, Michael Hussey, Glenn Maxwell, Clint McKay, Mitchell Starc, Matthew Wade (wkt), David Warner, Cameron White.