The Fiorentina striker and Roma full-back are included in Cesare Prandelli's 23-strong party for their final World Cup 2014 qualifers against Denmark and Armenia
Rossi has not featured for the Azzurri since appearing against Serbia back in October 2011, just weeks before he ruptured his cruciate ligament for the first time.
Since his return to action, though, the former Manchester United man has been in fine goalscoring form, netting five times in seven Serie A appearances for the Viola already this term, prompting Prandelli to reintroduce him to the Italy set up.
Left-back Balzaretti has also enjoyed a resurgence in both form and fortunes and his performances for Rudi Garcia's Roma have earned him a recall to the international side, the 31-year-old having played in all seven of the Giallorossi's victories this season, netting his first goal for the club in the process.
There are no fewer than five Juventus stars called up by Prandelli, as Gianluigi Buffon, midfielders Andrea Pirlo and Claudio Marchisio, and defenders Giorgio Chiellini and Leonardo Bonucci all get the nod, and, perhaps surprisingly, there are still four AC Milan players selected, despite the Rossoneri's stuttering start to their Serie A campaign.
Italy have already qualified for the World Cup in Brazil next year, having claimed top spot in their group with two games still to play.
As result, Prandelli may be tempted to experiment with tactics and give his fringe players in the squad the opportunity to impress as they travel to Denmark on October 11 before entertaining Armenia four days later.
Gianluigi Buffon (Juventus), Federico Marchetti (Lazio), Salvatore Sirigu (Paris Saint-Germain)
Ignacio Abate (Milan), Davide Astori (Cagliari), Federico Balzaretti (Roma), Leonardo Bonucci (Juventus), Giorgio Chiellini (Juventus), Lorenzo De Silvestri (Sampdoria), Manuel Pasqual (Fiorentina), Andrea Ranocchia (Inter)
Alberto Aquilani (Fiorentina), Antonio Candreva (Lazio), Daniele De Rossi (Roma), Alessandro Diamanti (Bologna), Alessandro Florenzi (Roma), Emanuele Giaccherini (Sunderland), Claudio Marchisio (Juventus), Ricardo Montolivo (Milan), Andrea Pirlo (Juventus), Andrea Poli (Milan), Thiago Motta (Paris Saint-Germain), Marco Verratti (Paris Saint-Germain)
Mario Balotelli (Milan), Alessio Cerci (Torino), Alberto Gilardino (Genoa), Lorenzo Insigne (Napoli), Pablo Daniel Osvaldo (Southampton), Giuseppe Rossi (Fiorentina)