The Leicester Tigers duo both played on the victorious 2013 tour in Australia and have been included for a second time by head coach Warren Gatland after sharing in England’s Six Nations Championship win earlier this season.
Cole has 74 caps for England and played three Tests for the Lions in 2013, while Youngs played in the first two Tests in Australia on the last tour and has 70 caps for England. He passed 200 appearances for Tigers earlier this month.
Gatland ended months of speculation in the media with his squad announcement at noon today. The tour starts with a game against New Zealand Barbarians on June 3, with the Tests on June 24, July 1 and July 8.
Wales flanker Sam Warburton has been confirmed as captain for a second successive tour, the first man to lead two tours since Tigers and England legend Martin Johnson.
Former Tigers prop Graham Rowntree is part of the coaching team on the tour, his fifth in Lions colours as player and coach.
British & Irish Lions squad
Rory Best (Ireland), Dan Cole (England), Taulupe Faletau (Wales), Tadhg Furlong (Ireland), Jamie George (England), Iain Henderson (Ireland), Maro Itoje (England), Alun Wyn Jones (Wales), George Kruis (England), Courtney Lawes (England), Joe Marler (England), Jack McGrath (Ireland), Ross Moriarty (Wales), Sean O'Brien (Ireland), Peter O'Mahony (Ireland), Ken Owens (Wales), Kyle Sinckler (England), CJ Stander (Ireland), Justin Tipuric (Wales), Billy Vunipola (England), Mako Vunipola (England), Sam Warburton (Wales)
Dan Biggar (Wales), Elliot Daly (England), Jonathan Davies (Wales), Owen Farrell (England), Leigh Halfpenny (Wales), Robbie Henshaw (Ireland), Stuart Hogg (Scotland), Jonathan Joseph (England), Conor Murray (Ireland), George North (Wales), Jack Nowell (England), Jared Payne (Ireland), Jonathan Sexton (Ireland), Tommy Seymour (Scotland), Ben Te'o (England), Anthony Watson (England), Rhys Webb (Wales), Liam Williams (Wales), Ben Youngs (England)
3 June: New Zealand Barbarians
7 June: Blues
10 June: Crusaders
13 June: Highlanders
17 June: Maori All Blacks
20 June: Chiefs
24 June: New Zealand - First Test
27 June: Hurricanes
1 July: New Zealand - Second Test
8 July: New Zealand - Third Test