Weatherald scored 23 and 0 as the home team fell to a nine-wicket defeat in Darwin, leaving the opener with an overall record of 224 runs at an average of 20.36 from six matches.
Renshaw is in line to play his 15th Test and will come into the team on the back of good form with Queensland in domestic first-class cricket last season having averaged 49.90, that included three centuries.
The change at the top of the order will see Australia now have used seven openers since David Warner retired in 2024.
Another player under scrutiny in the second Test will be number 3 Marnus Labuschagne, who head coach Andrew McDonald needed "big runs".
Australia squad for second Test against Bangladesh: Travis Head, Matt Renshaw, Marnus Labuschagne, Steven Smith, Cameron Green, Alex Carey, Beau Webster, Pat Cummins (captain), Mitchell Starc, Nathan Lyon, Josh Hazlewood, Josh Inglis, Scott Boland
Australia head coach Andrew McDonald admits Marnus Labuschagne "needs some big runs" to retain his place in the Test team as the hosts mull changes following a shock defeat Bangladesh.
Bangladesh will take a commanding position into the fourth day of their Test against Australia in Darwin after their bowlers repeatedly disrupted the hosts' batting line-up.
Josh Hazlewood has got the nod to start ahead of Scott Boland for Australia in the first Test against Bangladesh, starting on Thursday, with captain Pat Cummins confirming a powerful line-up.
Beau Webster insists he does not see Cameron Green as direct competition for a place in Australia's Test team as the allrounders look set to play together against Bangladesh.
