Stand-in captain Steve Smith won the toss and opted to bat, with Pat Cummins also missing after being ruled out on Wednesday with a quad injury.
It is the second time Neser has become a last-minute addition in Adelaide, after making his debut there last year.
Hazlewood bowled more than 40 overs across the two innings in Perth and has not bowled in the nets since on a three-day turnaround.
Mitchell Starc has been cleared to play and he will be joined by Neser, Nathan Lyon and Scott Boland.
"Unfortunately Joshy's pulled up not so well so Michael Neser gets another opportunity," Smith confirmed.
"Having a bat is traditionally that's what we like to do here.
"If you bat really well, you can sort of set the game up and maybe get to declare at the right time if you really want to."
West Indies have greater issues, with four players out through injury.
Kemar Roach (hamstring) and young seamer Jayden Seales (knee) have both been ruled out, leaving Marquino Mindley to debut just two days after flying in from the Caribbean.
Allrounder Kyle Mayers (shoulder) is also out with Devon Thomas to make his debut, while Nkrumah Bonner is also out with concussion with Shamarh Brooks to bat at No.3.
AUSTRALIA: David Warner, Usman Khawaja, Marnus Labuschagne, Steve Smith (capt), Travis Head, Cameron Green, Alex Carey, Mitchell Starc, Michael Neser Nathan Lyon, Scott Boland.
WEST INDIES: Kraigg Brathwaite (capt), Tagenarine Chanderpaul, Shamarh Brooks, Jermaine Blackwood, Devon Thomas, Jason Holder, Joshua Da Silva, Roston Chase, Alzarri Joseph, Anderson Phillip, Marquino Mindley.
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