Saints captain Steele underwent surgery on a fractured collarbone last month and returns after missing just three matches, desperate to help his side bounce back from their first loss of the season.
Experienced forward Membrey has been named for his first game of the year at Marvel Stadium on Sunday after a delayed start because of a knee injury.
The 28-year-old's timely return comes with young forward Anthony Caminiti set to miss the next three matches through suspension.
Carlton have handed mature-age recruit Alex Cincotta his debut in place of injured star Adam Saad (hamstring), while Mitch McGovern is back from a calf injury.
Young tall Tom De Koning has been managed, with Marc Pittonet cleared to shoulder ruck duties despite copping a knock to an eye last week.
Assistant coach Ash Hansen said Membrey's inclusion for Caminiti wouldn't drastically alter Carlton's defensive plans but noted the 153-game forward had kicked seven goals in his past two outings against the Blues.
"Membrey's a more mature player and has played historically well against us," Hansen told reporters on Friday.
"Coming back he'll be fresh, so we'll respect him.
"He'll add some maturity for them and his running ability and ability to move the ball is dangerous."
Gold Coast have also recalled an experienced duo, with co-captain Jarrod Witts and key forward Levi Casboult back in action at home against North Melbourne on Sunday.
Witts has missed two matches with back soreness and Casboult was managed last week.
The pair are vital to the Suns' chances of toppling the Kangaroos, who have lost co-captain Jy Simpkin (hand).
Former Gold Coast dasher Aaron Hall and Paul Curtis have been recalled, with another ex-Suns player Hugh Greenwood a chance to feature again as North's substitute.
In-form Adelaide are unchanged for Sunday's trip to Launceston to face Hawthorn, who have brought in Max Lynch to replace fellow ruckman Lloyd Meek and rested midfielder Josh Ward.
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