Head will partner David Warner at the top of the order after former skipper Aaron Finch retired from the 50-over format.
Chairman of selectors George Bailey said: “Travis Head returns in place of Aaron Finch having played well in Pakistan and Sri Lanka earlier in the year.
“He has demonstrated flexibility in the types of roles he can play in our ODI line-up.”
Australia were knocked out of the T20 World Cup on home soil last weekend when England beat Sri Lanka to deny the holders a semi-final spot.
They will step up their preparations for the ODI World Cup in India next year with a series against Jos Buttler’s side that gets under way at Adelaide Oval on Thursday (November 17), with Cummins leading the side for the first time since replacing Finch.
The selectors also on Tuesday named a 13-man squad for Tests versus West Indies, the first of which starts at Perth Stadium on November 30.
Opener Marcus Harris returns after a missing a historic series win in Pakistan and a drawn series against Sri Lanka.
Bailey said: “Marcus Harris retains his place after continuing to perform for Gloucestershire in the English County competition and a strong start to the Marsh Sheffield Shield season.
“After some larger squads for the subcontinent tours over the winter, we have returned to a very similar squad to that which performed strongly last summer in comprehensively winning the Ashes.”
Australia ODI squad to face England: Pat Cummins (captain), Ashton Agar, Alex Carey, Cameron Green, Josh Hazlewood, Travis Head, Marnus Labuschagne, Mitchell Marsh, Glenn Maxwell, Steve Smith, Mitchell Starc, Marcus Stoinis, David Warner, Adam Zampa
Australia Test squad to face West Indies: Pat Cummins (captain), Scott Boland, Alex Carey, Cameron Green, Marcus Harris, Josh Hazlewood, Travis Head, Usman Khawaja, Marnus Labuschagne, Nathan Lyon, Steve Smith, Mitchell Starc, David Warner