Regular T20 captain Malinga sustained the injury during Sri Lanka's home series against West Indies last year and missed the team's tour of New Zealand and India, where Dinesh Chandimal deputised as skipper.
Also returning to the 15-man squad, which will also take part in the upcoming Asia Cup tournament before the World Twenty20, was all-rounder Angelo Mathews.
Malinga and Mathews, who was suffering from a groin strain, missed their recent three-match T20 series in India.
Experienced seamer Nuwan Kulasekara and wily left-arm spinner Rangana Herath were also named in the squad after missing the series against India, whom Sri Lanka defeated in the final to win the World Twenty20 in 2014.
Sri Lanka are in Group 1 in the Super 10 stage of the biennial event along with England, South Africa, West Indies and a yet-to-be-determined qualifier.
Squad: Lasith Malinga (captain), Angelo Mathews, Dinesh Chandimal, Tillakaratne Dilshan, Niroshan Dickwella, Shehan Jayasuriya, Milinda Siriwardana, Dasun Shanaka, Chamara Kapugedera, Nuwan Kulasekara, Dushmantha Chameera, Thisara Perera, Sachithra Senanayake, Rangana Herath, Jeffrey Vandersay.
