The pair have both been sidelined with long-term injuries, but have shown promising signs making their comebacks this season.
Badstuber is one of seven defenders in Low's 23-man squad and could make his first international appearance since October 2012 after four knee operations.
Meanwhile, Gundogan has not featured for Germany since August 2013, but has found form again for Borussia Dortmund following a back injury.
"They have had long periods of suffering behind them, fortunately that is now over and I have been impressed with how fast they have returned to high level," said Low.
"It is amazing how they have dealt with their situation. They have worked hard for months and despite some setbacks never lost its optimism.
"It is nice to be able to welcome them again into our circle and we now look to the future with them."
World champions Germany face 2015 AFC Asian Cup winners Australia in a friendly on Wednesday before their Euro 2016 qualifier in Tbilisi four days later.
Squad in full:
Goalkeepers: Manuel Neuer (Bayern Munich), Roman Weidenfeller (Borussia Dortmund), Ron-Robert Zieler (Hannover)
Defenders: Holger Badstuber, Jerome Boateng (both Bayern Munich), Jonas Hector (Cologne), Benedikt Howedes (Schalke), Mats Hummels (Borussia Dortmund), Shkodran Mustafi (Valencia), Sebastian Rudy (Hoffenheim)
Midfielders: Karim Bellarabi (Bayer Leverkusen), Ilkay Gundogan (Borussia Dortmund), Sami Khedira (Real Madrid), Christoph Kramer (Borussia Monchengladbach),Toni Kroos (Real Madrid), Thomas Muller (Bayern Munich), Mesut Ozil (Arsenal), Lukas Podolski (Inter), Marco Reus (Borussia Dortmund), Andre Schurrle (Wolfsburg), Bastian Schweinsteiger (Bayern Munich)
Forwards: Mario Gotze (Bayern Munich), Max Kruse (Borussia Monchengladbach)
