The Fiji-born 24-year-old, who spent the past five years in Australia's top-flight National Rugby League, will bid to become the first player to represent the Wallabies before playing a Super Rugby match since hooker Tatafu Polota-Nau in 2005.
Hooker Tolu Latu and utility back Kyle Godwin are the other uncapped players in the squad, which features nine of the 11 debutants blooded during the 2016 season.
Australia, beaten 37-10 in their previous match against the All Blacks in Auckland, open the tour against Wales in Cardiff on November 5 before playing tests against Scotland, France, Ireland and England.
Winger Koroibete, who has played rugby league for Fiji, will play Super Rugby for Melbourne Rebels next year after crossing from the NRL's Melbourne Storm.
Zimbabwe-born Godwin will move to the ACT Brumbies from Western Force next season. He can play centre and flyhalf and will provide cover at midfield after Samu Kerevi was ruled out of the tour with an ankle injury.
Kerevi's injury could mean more time at centre for regular fullback Israel Folau, who switched there after the Queensland Red limped off against the All Blacks.
However, Cheika could also return Tevita Kuridrani to the number 13 shirt after playing him off the bench in the Rugby Championship.
