Queensland opener Renshaw, overlooked for the 15-man Test squad, sent a reminder to selectors of his class with a powerful and timely 101.
The Bulls finished the first day at the WACA on top at 6-323 after captain Marnus Labuschagne (50) continued his golden summer with the bat.
Green claimed a wicket in his opening spell for Western Australia that showcased pace and energy.
Ahead of next week's first Ashes Test in Perth, the Australia allrounder has been set the task of bowling 15 to 20 overs in the match against Queensland as he returns from injury.
With Green sporting a slight adjustment in his action, his opening four overs will have pleased Australia's brains trust. They included the wicket of Bulls opener Angus Lovell (11) with a peach of a delivery.
Green bowled eight accurate overs in two spells to finish with 1-13.
His fellow Australia allrounder Beau Webster took 5-50 against South Australia in Hobart to keep the pressure on for a top-six spot ahead of the first Test.
Renshaw notched his second Shield century of the summer. While he won't play in Perth his form will keep the heat on whoever opens for Australia in the early Tests.
Green has bowled in a match just once since back surgery last year. That was in Western Australia's opening Shield game of the summer against NSW.
Side soreness prevented him from taking any part in the ODI series against India but his return to the bowling crease has come at just the right time for Australia.
Green found his groove from the get-go. His energy at the point of delivery was on song and enabled the 26-year-old to generate considerable pace.
The delivery that removed Lovell was perfect, angling in and then moving off the seam just enough to catch a thin edge.
Overall, Green's opening spell impressed former Australia seamer and commentator Wayne Clark.
"He did look good," Clark said.
"That first few deliveries, it didn't take long for him to get into the rhythm and pace.
"It is just the subtleties he has got to get back ... get his lengths right and that ability to swing the ball, which he is capable of."
The most pleasing aspect of Renshaw's innings was his intent. A flicked six off his legs in the early overs was a portent of what was to come.
The knock was also indicative of his strong mindset amidst the disappointment of missing out on Ashes selection to Tasmania opener Jake Weatherald.
The Bulls finished the day with Lachlan Hearne (48no) and Xavier Bartlett (27no) at the crease.
Veteran Cameron Gannon (4-54) was the pick of the WA bowlers.
