Centre-back Mertesacker had been sidelined with an ankle injury he sustained playing for the Gunners in February but managed to play 90 minutes of the 5-3 friendly loss to Switzerland on the weekend and has been included in Low's 23-man roster.
Joining Mertesacker will be new Arsenal teammate Podolski who signed a deal with the North Londoners in April and will join from Cologne in July.
Germany squad for Euro2012
Jerome Boateng (Bayern Munich) Holger Badstuber (Bayern Munich) Philipp Lahm (Bayern Munich) Per Mertesacker (Arsenal) Mats Hummels (Borussia Dortmund) Benedikt Howedes (Schalke) Marcel Schmelzer (Borussia Dortmund)
Mesut Ozil (Real Madrid) Sami Khedira (Real Madrid) Toni Kroos (Bayern Munich) Thomas Muller (Bayern Munich) Bastian Schweinsteiger (Bayern Munich) Marco Reus (Borussia Monchengladbach) Mario Goetze (Borussia Dortmund) Ilkay Gundogan (Borussia Dortmund) Lars Bender (Bayer Leverkusen) Andre Schurrle (Bayer Leverkusen)