Shoaib was fined and banned for two matches last week for ball tampering during a tri-series match against New Zealand.
He will miss the first of the three one-day internationals during the three-week tour which starts on June 5.
There were no places for batsmen Taufeeq Umar and Faisal Iqbal, but experienced all rounder Azhar Mahmood, who is enjoying a successful stint with English county side Surrey this season, was recalled.
Uncapped Bilal Asad was also named in the squad but Inzamam-ul-Haq, one of the mainstays of Pakistan's middle-order in the last decade, was not considered for selection since being dropped after the World Cup earlier this year.
"We are aware of his talent, experience and potential
Razzaq has appeared in 132 one-day internationals for Pakistan but has struggled for consistency in recent matches.
"Razzaq has been replaced by young all rounder Bilal Asad in the touring squad while we have brought back Azhar because of his recent good form," Sohail added.
"He (Azhar) is a utility player who, we strongly believe, will make a difference to the outlook of the team.
"We are happy with the progress the young Pakistan team has made in two tournaments since the World Cup which is why we have tried to make minimum changes."
Squad: Mohammad Hafeez, Imran Nazir, Faisal Athar, Yasir Hameed, Yousuf Youhana (vice-captain), Younis Khan, Misbah-ul-Haq, Shoaib Malik, Bilal Asad, Azhar Mahmood, Rashid Latif, (captain) (wicketkeeper), Shoaib Akhtar, Mohammad Sami, Shabbir Ahmad, Umar Gul, Danish Kaneria.