Araujo looked certain to miss out on the tournament when he was forced to undergo surgery at the end of September, but the 23-year-old has been included in the squad, having stepped up his recovery in recent days.
Atletico Madrid's Jose Gimenez is also included, while there is a spot at the back for 36-year-old Diego Godin.
Jose Luis Rodriguez is yet to make an appearance for the senior side, but the 25-year-old, who plays his club football for Nacional, has also been named in the squad for the competition.
There is also plenty of experience in midfield, with Tottenham Hotspur's Rodrigo Bentancur named in the squad alongside the likes of Lucas Torreira and Matias Vecino.
Federico Valverde has been in excellent form for Real Madrid during the 2022-23 campaign, and the 24-year-old will also represent his country at the competition in Qatar.
Further forward, there is a position in the squad for Facundo Pellistri despite the attacker's lack of action for Manchester United during the 2022-23 campaign.
The inexperienced Agustin Canobbio and Facundo Torres are also included, while Maxi Gomez is another option in the final third of the field.
Edinson Cavani, 35, and Luis Suarez, 35, are also in the squad, with the pair boasting 58 and 68 goals respectively for the South American nation.
Meanwhile, as expected, there is a spot for Liverpool's Darwin Nunez, who has found the back of the net on three occasions in 13 appearances for the national side.
Uruguay, who won the World Cup in 1930 and 1950, finished fourth at the 2010 competition, while they made the quarter-finals in 2018, losing to eventual winners France.
Diego Alonso's side will open their Group H campaign against South Korea on November 24, while they will also take on Portugal and Ghana in the group stage of the competition.
Uruguay squad for World Cup:
Fernando Muslera (Galatasaray), Sergio Rochet (Nacional), Sebastian Sosa (Independiente); Jose Gimenez (Atletico Madrid), Sebastian Coates (Sporting Lisbon), Diego Godin (Velez Sarsfield), Martin Caceres (LA Galaxy), Ronald Araujo (Barcelona), Guillermo Varela (Flamengo), Jose Luis Rodriguez (Nacional), Mathias Olivera (Napoli), Matias Vina (Roma); Lucas Torreira (Galatasaray), Manuel Ugarte (Sporting Lisbon), Matias Vecino (Lazio), Rodrigo Bentancur (Tottenham Hotspur), Federico Valverde (Real Madrid), Facundo Pellistri (Manchester United), Nicolas De La Cruz (River Plate); Agustin Canobbio (Athletico Paranaense), Facundo Torres (Orlando City), Giorgian De Arrascaeta (Flamengo), Maxi Gomez (Trabzonspor), Luis Suarez (Nacional), Edinson Cavani (Valencia), Darwin Nunez (Liverpool)