Captain Nick Malouf and Henry Hutchison are the only survivors from the side that played in the sport's debut in Rio five years ago, while former 100m sprinter Trae Williams is a notable omission.
Former captain Lewis Holland (hamstring) also missed the 12-man squad, but could be selected as the emergency 13th man which is yet to be announced.
Australia have drawn heavyweights New Zealand, Argentina and South Korea in their pool.
Covid-19 has starved Tim Walsh's men of match play but they will still arrive with optimism.
"We are a diverse squad of individuals and skill-sets and together we are ready to challenge the best players and teams in the rugby sevens world," he said.