The batting line-up boasts of experience in the form of McCullum, Martin Guptill, Ross Taylor and Kane Williamson, while Corey Anderson and Grant Elliott, who last played an ODI in November 2013, will serve as the allrounders.
Mike Hesson, the coach, said it was all about finding the balance.
"Our batting unit has good depth and Grant’s inclusion assures us strong cover in the middle order," Hesson said. "He brings a lot of experience and his record in New Zealand and Australia conditions is excellent."
The spin department will be manned by the experienced Daniel Vettori and Nathan McCullum.
"There were some hard decisions to make, but we’re pleased with the overall 15 we’ve chosen," Hesson said. "A lot of bowlers have performed brilliantly for us over the past couple of seasons, which certainly made it difficult, but we think we have the right mix."
New Zealand, the co-hosts of the tournament, starts its ICC Cricket World Cup 2015 campaign on February 14, the opening day of the tournament, against Sri Lanka at the Hagley Stadium in Christchurch. To see New Zealand's fixtures in full, please click here.
New Zealand squad for the ICC Cricket World Cup 2015
Brendon McCullum (captain)