Striker Suarez, who scored 31 goals in 37 appearances during the 2013/14 season, is one of two Liverpool players in Oscar Tabarez's squad along with defender Sebastian Coates, who has been on loan at first club Nacional since January.
The 23-year-old missed Uruguay's last four qualifiers for the finals in Brazil and their play-off win over Jordan in November after suffering a knee ligament injury in August.
West Brom defender Diego Lugano and Southampton midfielder Gaston Ramirez are the other two English-based players.
Edinson Cavani, who scored 22 goals for Paris St Germain this season, is included amongst the strikers, as is 34-year-old former Manchester United forward Diego Forlan, who now plays with Japanese side Cerezo Osaka.
There are two players from Spanish title-challengers and Champions League finalists Atletico Madrid in the squad, with centre-back Jose Maria Gimenez and midfielder Cristian Rodriguez, who missed the 2010 finals through suspension, making the cut.
Midfielder Sebastian Eguren, a veteran the 2010 World Cup when he was playing his club football in Scandinavia, has also been handed an unexpected call for Brazil, where he now plays for promoted Palmeiras.
Uruguay, who reached the last four in South Africa four years ago, face Costa Rica, England and Italy in Group D at this summer's tournament, which kicks off next month.
Uruguay World Cup squad:
Goalkeepers: Fernando Muslera (Galatasaray), Martin Silva (Vasco da Gama), Rodrigo Munoz (Libertad)
Defenders: Maximiliano Pereira (Benfica), Diego Lugano (West Bromwich Albion), Diego Godin, Jose Maria Gimenez (both Atletico Madrid), Sebastian Coates (Liverpool), Martin Caceres (Juventus), Jorge Fucile (Porto)
Midfielders: Alejandro Silva (Lanus), Alvaro Gonzalez (Lazio), Alvaro Pereira (Sao Paulo), Walter Gargano (Parma), Egidio Arevalo Rios (Morelia), Diego Perez (Bologna), Sebastian Eguren (Palmeiras), Cristian Rodriguez (Atletico Madrid), Gaston Ramirez (Southampton), Nicolas Lodeiro (Botafogo)
Forwards: Luis Suarez (Liverpool), Edinson Cavani (Paris St Germain), Abel Hernandez (Palermo), Diego Forlan (Cerezo Osaka), Christian Stuani (Espanyol)
Stand-by players: Andres Scotti (Nacional), Alvaro Fernandez (Gimnasia-La Plata), Gonzalo Castro (Real Sociedad)