The 39-year-old came back into the international fold earlier this month after a three-and-a-half year ban for breaching the ICC's anti-corruption code.
Taylor was parachuted straight into the Zimbabwe starting XI for the second Test against New Zealand in Bulawayo where he scored 44 and 7 with the home side slumping to a 2-0 series defeat.
His last appearance in the 50-over format came back in September 2021 against Ireland.
"We are delighted to welcome Brendan back into the fold," Zimbabwe convener of selectors David Mutendera said. "His experience and quality are invaluable, especially in pressure situations, and his presence will no doubt lift the dressing room."
Zimbabwe's 16-man squad will be captained by middle-order batter Craig Ervine and includes four players that did not feature in their last ODI series against Ireland in February: Clive Madande, Tony Munyonga, Brad Evans and uncapped seamer Ernest Masuku.
Head Coach Justin Sammons added: "We've just come off a tough red-ball series and now it's about adjusting to the tempo and intensity of one-day cricket. Sri Lanka are a strong white-ball side and will punish any lapses, so we need to be sharp from ball one.
"Clarity in roles will be key – each player must understand exactly what's required. Get that right, and I believe we can compete strongly against a very disciplined Sri Lankan outfit."
Ervine said: "Switching from red-ball to white-ball cricket is always a test, especially against a team of Sri Lanka's calibre. We need to stay flexible, back our plans and make the most of our home conditions to compete strongly in both matches."
Both ODI matches will be played in Harare, starting on Friday with the next game on Sunday.
Zimbabwe ODI squad: Craig Ervine (captain), Brian Bennett, Johnathan Campbell, Ben Curran, Brad Evans, Trevor Gwandu, Wessly Madhevere, Clive Madande, Ernest Masuku, Tony Munyonga, Blessing Muzarabani, Richard Ngarava, Newman Nyamhuri, Sikandar Raza, Brendan Taylor, Sean Williams
Debutant Zakary Foulkes took nine wickets in the game to help New Zealand canter to an innings and 359-run victory in the second Test against Zimbabwe in Bulawayo and ensure a series clean sweep.
Matt Henry starred with nine wickets in the game as New Zealand romped to a nine-wicket victory in the first Test against Zimbabwe in Bulawayo.
Brendan Taylor has been added to Zimbabwe's Test squad for the second match of the series against New Zealand following the completion of a three-and-a-half-year corruption ban.
Sikandar Raza and Ben Curran have returned to Zimbabwe's Test squad for the two-match series against New Zealand that starts in Bulawayo on 30 July.
