Striker Higuain and midfielder Mascherano have completed two-match suspensions while central defenders Ezequiel Garay and Federico Fernandez also come back from one-game bans.
Argentina, unbeaten in eight matches this year including friendlies, host eliminated Peru on Oct. 11 at the Monumental in Buenos Aires.
Four days later the Argentines travel to Montevideo to face Uruguay who at that stage may still have not secured their berth in the finals in Brazil.
All the foreign-based players in the squad that travelled to Asuncion were retained while Metalist Kharkiv forward Jose Sosa earned a recall in coach Alejandro Sabella's 23-man list, posted on the Argentine FA's website (www.afa.org.ar).
Sabella looks as though he has left out Boca Juniors playmaker Fernando Gago and Newell's Old Boys winger Maxi Rodriguez so as not to take them from their clubs who have Argentine first division matches that weekend.
There were media reports after the win in Paraguay that Argentina would agree with Barcelona to free Lionel Messi from the remaining qualifiers they do not need to win but Sabella said that would be disrespectful of teams still in need of points.
Sabella's team lead the nine-nation South American group with 29 points, three more than Colombia who have all but secured their place at the finals for the first time since 1998.
Third-placed Chile (24 points) and Ecuador (22) and Uruguay (22) are vying for the other two automatic berths and the playoff in November against Jordan that goes to the team finishing fifth.
Venezuela, who are sixth with 19 points and have never reached the finals, have an outside chance of upsetting the apple cart if they win their last game at home to bottom team Paraguay, and Ecuador or Uruguay lose their last two matches.
Goalkeepers: Sergio Romero (Monaco), Mariano Andujar (Catania)
Defenders: Pablo Zabaleta (Manchester City), Hugo Campagnaro (Inter Milan), Ezequiel Garay (Benfica), Federico Fernandez (Getafe), Fabricio Coloccini (Newcastle United), Marcos Rojo (Sporting Lisbon), Jose Basanta (Monterrey), Cristian Ansaldi (Zenit St Petersburg)
Midfielders: Javier Mascherano (Barcelona), Ever Banega (Valencia), Lucas Biglia (Lazio), Augusto Fernandez (Celta Vigo), Angel Di Maria (Real Madrid), Ricardo Alvarez (Inter Milan), Erik Lamela (AS Roma)
Forwards: Lionel Messi (Barcelona), Sergio Aguero (Manchester City), Gonzalo Higuain (Napoli), Ezequiel Lavezzi (Paris St Germain), Rodrigo Palacio (Inter Milan), Jose Sosa (Metalist Kharkiv)