Forward trio Cole, Youngs and Parling, plus centre Manu Tuilagi, all return in changes to the team that started the Aviva Premiership win over Worcester Warriors last week.
All four played a prominent part in the autumn international series with England.
Anthony Allen, Marcos Ayerza, Julian Salvi and Jordan Crane also return to the Tigers starting line-up.
The teams meet for the eighth time in Heineken Cup competition with both teams in recent form with Tigers third in the Aviva Premiership table and Ospreys fourth in their domestic competition.
Tigers will wear the traditional red, white and green colours at the Liberty Stadium this weekend and will wear the black and carbon European kit against Toulouse at Welford Road next Sunday.
Leicester Tigers (v Ospreys, Liberty Stadium, Sunday 3pm)
15 Mathew Tait
14 Niall Morris
13 Manusamoa Tuilagi
12 Anthony Allen
11 Adam Thompstone
10 Toby Flood
9 Ben Youngs
1 Marcos Ayerza
2 Tom Youngs
3 Dan Cole
4 Louis Deacon (c)
5 Geoff Parling
6 Steve Mafi
7 Julian Salvi
8 Jordan Crane
Replacements
16 Rob Hawkins
17 Logovi’i Mulipola
18 Martin Castrogiovanni
19 Ed Slater
20 Thomas Waldrom
21 Sam Harrison
22 George Ford
23 Matt Smith
Ospreys
15 Richard Fussell
14 Ross Jones
13 Tom Isaacs
12 Andrew Bishop
11 Eli Walker
10 Dan Biggar
9 Kahn Fotuali'i (c)
1 Ryan Bevington
2 Richard Hibbard
3 Adam Jones
4 Ian Gough
5 James King
6 Ryan Jones
7 Justin Tipuric
8 Joe Bearman
Replacements
16 Scott Baldwin
17 Duncan Jones
18 Campbell Johnstone
19 Lloyd Peers
20 Sam Lewis/Jonathan Thomas
21 Rhys Webb
22 Matthew Morgan
23 Jonathan Spratt
