Victorious 2014 ICC U-19 World Cup captain could open with Elgar; Phehlukwayo also included in South African 13-man squad.
Coached by former Zimbabwe captain Andy Flower, World XI has players such as Faf du Plessis, Tamim Iqbal, Darren Sammy, among others.
Prolific batsman reveals he will be available for all three formats, ending speculations over his Test future.
Team pips Australia to third, raising the stakes for the Ashes tour later this year. SA lost seven rating points.
England beat South Africa by 177 runs in the fourth and final Test at Old Trafford to complete a 3-1 series win.
Despite losing regular wickets, England took their lead to 360 at stump on day 3.