Ruben Loftus-Cheek has been ruled out but Chelsea still retain a strong presence in the competition, which will feature several players who helped the Young Lions win the Toulon Tournament last summer.
England begin their campaign against Sweden on June 16 and they will also face Slovakia and Poland in the group stage. Baker thinks that the experience of Chalobah and other Premier League players like Nathan Redmond and James Ward-Prowse will be key.
“It is great to play with them [Chalobah and Abraham] again," he told Goal. "Nathaniel has been in Chelsea first team and others have been playing in the Premier League and Championship.
“The experience they have had this season will be vital for England U21s.
“We have some of our other players who have played in finals and played for their country before. There are others who have maybe not played in tournament football before but Nathaniel and some of the others have experience at the top level.
“It will be useful and we will need that experience. It’s just a shame Ruben couldn’t make it.”
England haven't won the European Championships at U21 level since 1984 but Baker thinks that his side is well set up to mount a strong challenge to change that statistic.
“It is going to be a great tournament. We have a strong squad but we are in a difficult group," he said.
“With the team we have got, we should hopefully have a good tournament. For me, it is my first Euro finals. I am really excited and I am sure the other boys are as well.
“As soon as I came in, at this level, I thought it was fantastic. I am always proud to represent my country on any level. I will do my best while I am out there in Poland.”