There were no surprises from Pizzi, who named an initial 40-man squad, which will be culled to 23 on May 20, before the Copa America gets underway in the United States on June.
Arsenal forward Sanchez, who is third on Chile's all-time goalscorers list, Bayern Munich midfielder Vidal and Barcelona goalkeeper Claudio Bravo - the nation's most capped player with 100 appearances - are looking to claim back-to-back titles after winning South America's prestigious tournament last year under the guidance of former coach Jorge Sampaoli.
Debutants Felipe Campos, Marcelo Larrondo, Jeisson Vargas and Marcos Bolados will be hoping to make the final cut.
Chile get their title defense underway against giant Argentina in a repeat of the 2015 final on June 6.
The Chileans then take on Bolivia (June 10) and Panama (June 14) in Group D.
Chile's preliminary 40-man squad in full:
Goalkeepers: Claudio Bravo (Barcelona), Paulo Garces (Colo Colo), Johnny Herrera (Universidad de Chile), Cristopher Toselli (Universidad Catolica)
Defenders: Miiko Albornoz (Hannover), Felipe Campos (Palestino), Paulo Diaz (San Lorenzo), Mauricio Isla (Marseille), Gonzalo Jara (Universidad de Chile), Igor Lichnovsky (Sporting Gijon), Gary Medel (Inter), Eugenio Mena (Sao Paulo), Enzo Roco (Espanyol), Christian Vilches (Atletico Paranense)
Midfielders: Charles Aranguiz (Bayer Leverkusen), Jean Beausejour (Colo Colo), Marcos Bolados (Antofagasta), Marcelo Diaz (Celta Vigo), Matias Fernandez (Fiorentina), Jose Pedro Fuenzalida (Universidad Catolica), Felipe Gutierrez (FC Twente), Pedro Pablo Hernandez (Celta Vigo), Manuel Iturra (Rayo Vallecano), Fernando Meneses (Veracruz), Esteban Pavez (Colo Colo), Edson Puch (LDU Quito), Erick Pulgar (Bologna), Bryan Rabello (Santos Laguna), Francisco Silva (Chiapas), Diego Valdes (Audax Italiano), Arturo Vidal (Bayern Munich)
Forwards: Nicolas Castillo (Universidad Catolica), Mark Gonzalez (Sport Recife), Angelo Henriquez (Dinamo Zagreb), Marcelo Larrondo (Rosario Central), Fabian Orellana (Celta Vigo), Mauricio Pinilla (Atalanta), Alexis Sanchez (Arsenal), Eduardo Vargas (Hoffenheim), Jeisson Vargas (Universidad Catolica)