The 29-year-old is set to join the Australian team in Dhaka on Friday and will begin preparations ahead of the three-match series, which gets underway next week.
Chaudhary has been drafted into the squad as a replacement for Travis Head, who was granted personal leave and is unavailable for the Bangladesh tour.
Australia national selector Tony Dodemaide said Chaudhary had been on the selectors' radar for some time and had already been involved with the national setup as a standby player during pre-tour preparations.
“Nikhil has been a player of national interest for some time. He was a standby player for this tour, joining the squad at pre-season camps in Brisbane and comes in as a replacement for Travis Head,” Dodemaide said.
“The panel has been impressed by his BBL form, particularly last season, leading to his addition to the squad. He has also been part of the Delhi Capitals setup in this year’s IPL.”
Dodemaide added that the Bangladesh tour would provide the all-rounder with a valuable opportunity to gain international experience and potentially make his Australia debut.
“Nikhil will gain invaluable experience in Bangladesh and will be in contention to play his first game for Australia when we sit down to pick a team for the opening T20 fixture here next week.”
Chaudhary's selection comes on the back of impressive performances in the Big Bash League with the Hobart Hurricanes, where his contributions with both bat and ball helped establish him as one of the competition's most promising all-rounders.
If selected in the playing XI, the Bangladesh series could mark Chaudhary's international debut for Australia.