"Glenn's a versatile player who can cover most places in the batting order for us — as well as providing a bowling option if needed," Stead said. "The fact we're having to leave out players of the calibre of Ish, Henry and Will shows the increased depth we have at our disposal.
"It's great to welcome back Matt. He's been one of our frontline one-day bowlers for the past few years and his ICC ODI bowling ranking of six is testament to that. The inclusion of Ben Sears is a nod to the future, and we also think his pace and bounce could be a good option in Australian conditions."
The three day-night matches will be the Black Caps' first in Australia since their ill-fated March 2020 visit, when Australia won the first game by 71 runs before the emerging global pandemic saw the rest of the series scrapped.
Next month's series will be the 13th Chappell-Hadlee contest between the sides, with Australia leading the ledger 6-4, and captain Kane Williamson knows the importance of the prize among Kiwi fans.
"It's a great rivalry we have with Australia," said Williamson. "It's always a huge occasion for the fans, and the team really look forward to it
"You grow up watching the Chappell-Hadlee Trophy series and remembering the great battles, so to be part of another chapter is pretty special.
"We know how tough Australia are to beat in their own conditions and we're looking forward to the challenge."
Williamson will resume the captaincy after missing the final two games against West Indies in Barbados through injury, with Stead saying his skipper's return is perfectly timed.
"He's a world-class player and his leadership and experience is invaluable to our group," the coach said. "We know how much the Chappell-Hadlee Trophy means to our fans and we're excited by the opportunity to head to Australia and try and win it back," he added.
"With the World Cup in India just 14 months away, it's great to be playing more ODI cricket as we build towards the tournament."
Black Caps ODI squad:
Kane Williamson (c), Finn Allen, Trent Boult, Michael Bracewell, Devon Conway, Lockie Ferguson, Martin Guptill, Matt Henry, Tom Latham, Daryl Mitchell, Jimmy Neesham, Glenn Phillips, Mitchell Santner, Ben Sears, Tim Southee.