Shaqiri has made 31 appearances and scored four goals for Basel since making his debut for the club last July. However, he has played just 45 minutes of international football - in a 3-1 friendly loss against Uruguay in March.
Hitzfeld said of his gamble on the youngster: "Shaqiri has produced some good performance for Basel and he can play several positions."
And the 61-year-old former German international also backed Senderos despite his lack of first-team football at the Emirates and Goodison Park.
"Senderos has had only a little match practice at club level, but he has always justified my confidence," he said.
Hitzfeld has retained nine of the players taken by predecessor Koebi Kuhn to the 2006 World Cup in Germany, where the Swiss reached the last 16 before losing to Ukraine in a penalty shoot-out.
Two of those stalwarts, captain Alex Frei of FC Basel and Lucerne striker Hakan Yakin, will be hoping to add to their respective 40 and 20-goal international tallies in South Africa.
Midfielder Benjamin Huggel, meanwhile, will travel to his first World Cup after missing out in Germany because of the six-match Fifa ban he received for his part in the brawl that erupted after Switzerland's 2005 qualifying play-off victory over Turkey in Istanbul.
Goalkeepers: Diego Benaglio (Wolfsburg), Johnny Leoni (Zurich), Marco Woelfli (Young Boys).
Defenders: Stephan Lichtsteiner (Lazio), Stephane Grichting (Auxerre), Steve Von Bergen (Hertha Berlin), Philippe Senderos (Arsenal), Mario Eggimann (Hannover), Christoph Spycher (Eintracht Frankfurt), Reto Ziegler (Sampdoria).
Midfielders: Valon Behrami (West Ham), Gokhan Inler (Udinese), Benjamin Huggel (Basle), Gelson Fernandes (St. Etienne), Xherdan Shaqiri (Basel), Pirmin Schwegler (Eintracht Frankfurt), Tranquillo Barnetta (Bayer Leverkusen), Marco Padalino (Sampdoria).
Forwards: Alex Frei (Basle), Blaise Nkufo (Twente), Eren Derdiyok (Bayer Leverkusen), Hakan Yakin (Lucerne), Marco Streller (Basle).
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