Archer, who has endured a string run of injuries since his international breakthrough in 2019, has not played competitive cricket for a year following a right elbow injury.
But he has been passed fit and takes his place in a 15-man squad that will defend the title Jos Buttler's side won in Australia in 2022 at the tournament in West Indies and the United States.
The squad is officially deemed "provisional" but with just 24 hours until the International Cricket Council's deadline and no reserve players named, only further fitness setbacks will stop Archer making his long-awaited comeback.
Archer has managed just 15 T20 appearances for England since making his international debut five years ago, but is still considered a potential game-changer in the format.
He grew up in Barbados so is knowledgable about Caribbean conditions.
Veteran seamer Chris Jordan returns to the squad alongside uncapped spinner Tom Hartley but there is no place for Chris Woakes, a World Cup winner in both the 20-over and 50-over formats.
Managing director of England men's cricket Rob Key said Archer was "desperate" to play on his home island.
"Jofra's a bowler that is just so special you do everything you can to try to get him back playing and we've sort of taken the longer road this time but as always with Jofra, it's fingers crossed until he's out there playing," said Key.
"It's like when you're waiting for something really good to happen, you don't quite believe it until he's there but he's tracking well at the moment.
"The next step is when he gets into that Pakistan series. It's going to be full match intensity, how he keeps going through there but at the moment we're doing everything we can and he's in a good spot."
All teams are allowed to make changes to their squads until May 25, after which any alteration will require approval from the International Cricket Council.
The squad will fly to the Caribbean on May 31 ahead of their opening group match against Scotland in Barbados on June 4.
The squad will also take on Pakistan in a four-match T20 series starting in Leeds on May 22.
England T20 World Cup squad
Jos Buttler (capt, wk), Moeen Ali, Jofra Archer, Jonny Bairstow, Harry Brook, Sam Curran, Ben Duckett, Tom Hartley, Will Jacks, Chris Jordan, Liam Livingstone, Adil Rashid, Phil Salt, Reece Topley, Mark Wood
