The three-Test series, which begins in Barbados on June 25, marks the start of the team's new World Test Championship cycle - and follows this week's WTC final between Australia and South Africa.
Limited-overs captain Hope has played 38 Tests, the last of which came in Sri Lanka in late 2021.
Kevlon Anderson earned a first Test call-up while Brandon King was also included in the squad to strengthen their batting order against Australia's formidable pace attack.
"Brandon King's inclusion fits a role we have identified that needs special focus to take our team to those closer to the top of the rankings," head coach Daren Sammy said in a statement issued by Cricket West Indies on Tuesday.
With Roach dropped from the squad, which is captained by Roston Chase, the pace bowling duties will largely fall to Jayden Seales, Alzarri Joseph and Shamar Joseph.
Sammy asked fans to be patient with the team, which currently ranks eighth in tests.
"I am truly looking forward to this series because we want to start off strongly and make our home turf a fortress during this cycle, while having our passionate and proud fans behind us," Sammy said.
"The matches will be challenging but I believe in this core of players, and they are eager to wear the maroon and make our fans happy."
Squad: Roston Chase (captain), Jomel Warrican, Kevlon Anderson, Kraigg Brathwaite, John Campbell, Keacy Carty, Justin Greaves, Shai Hope, Tevin Imlach, Alzarri Joseph, Shamar Joseph, Brandon King, Johann Layne, Mikyle Louis, Anderson Phillip, Jayden Seales.
