The recalled Renshaw is a straight swap for Jake Weatherald who was dropped after six underwhelming Test matches.
The pitch at Great Barrier Reef Arena is expected to assist the pacemen, but offspinner Nathan Lyon, after taking 1-102 in the first innings of the nine-wicket loss by Australia in Darwin, will play his 143rd Test.
Outstanding paceman Scott Boland did not play in Darwin and will now have to wait until the tour of South Africa in October for his next Test, after starring in last summer's Ashes.
Pitch curator Peter Kazakoff said the Mackay wicket would suit fast bowlers on both sides.
"That is what we are aiming for, a lot of pace," he said.
"We want the ball to come through really nicely. We have got the same sort of clay as the Gabba, so we are expecting similar sort of characteristics to that."
Australia confirmed their side, with Lyon in it, an hour after captain Cummins held a press conference where he said he was considering an all-out pace attack.
Kazakoff said there would be a role for Lyon and the Bangladesh spinners.
"I think the spinners will come into the game, going off previous first-class games here," he said.
"Spinners have had a big say later in the match. Obviously those first-class games were a bit later in the year when it was a bit warmer.
"It is a lot cooler this time of year. The moisture will come out of the wicket less and slower."
There has been a lot of talk about "soul-searching" in the Australian camp after the Darwin loss, but Cummins said he was confident of a response.
"In home Test matches we pride ourselves on winning as many as we can," he said.
"It's funny. I think if we played really well and we lost you'd feel like we needed to do some soul-searching.
"I certainly felt like we didn't play anywhere near our best and they played really well. When we play well, fortunately we have got a decent body of work to look back on."
Weatherald's axing was simple to explain for Cummins, who said he was "awesome around the group" but did not deliver.
"Over the course of six Test matches he didnt quite score the runs he or we would have liked," Cummins said.
Renshaw, 30, will play his first Test in three years after averaging 49.9 in Sheffield Shield cricket last summer, including scoring three centuries.
"'Renners' has been really impressive and had some great off-season tours of Pakistan and Bangladesh recently with white-ball (formats). He looks in good nick," Cummins said.
"He had a really good Shield season last season.
"Some of the kind of chat about Renners in the past is that he can look different from day to day.
"When you get to the back half of your career as a batter you want to really know what you look like at your best, and I think he does that.
"I hope he brings his best version every day, is nice and sharp and puts the pressure on the bowlers."
AUSTRALIA XI: Travis Head, Matt Renshaw, Marnus Labuschagne, Steve Smith, Cameron Green, Alex Carey (wk), Beau Webster, Mitchell Starc, Pat Cummins (c), Nathan Lyon, Josh Hazlewood
