Bates is joined in the side by fellow White Ferns all-rounder Sophie Devine.
Bates skippered the White Ferns until September, when she gave up the captaincy to focus on playing.
Bates's appointment as the ODI captain is a recognition of her contribution in inspiring her side to second position in the ICC Women's Championship after three rounds.
In the seven ODIs this calendar year, Bates has scored 438 runs with two centuries and a half-century. Bates is presently ranked seventh in the MRF Tyres ICC Women's Players Rankings for ODI Batters.
Reacting to the news, Bates said: "Thank you very much to everyone who voted for the ICC team of the year. To be named captain is just an absolute honour. Obviously, I have been playing for a long time and stepped down from captaincy, but to be named captain of a World XI is pretty special and something I will always remember.
"It would be nice one day if we got together to play as a group and to captain some of the superstars, but once again such a huge honour and congratulations to all the award winners for this year."
The 11-member women's ODI side comprises players from seven countries, including two each from England (Tammy Beaumont and Sophie Ecclestone), India (Smriti Mandhana and Poonam Yadav), New Zealand (Suzie Bates and Sophie Devine) and South Africa (Dane van Niekerk and Marizanne Kapp), and one player each from Australia (Alyssa Healy), Pakistan (Sana Mir) and Deandra Dottin (the Windies).
Bates has also made the world T20 team alongside White Ferns off spinner Leigh Kasperek.
The T20I side boasts players from five countries, including four players from the ICC Women's World T20 2018 champions Australia (Alyssa Healy, Ellyse Perry, Ashleigh Gardner and Megan Schutt), three players from losing finalists India (Smriti Mandhana, Harmanpreet Kaur and Poonam Yadav), two players from New Zealand (Suzie Bates and Leigh Kasperek) and one player each from Bangladesh (Rumana Ahmed) and England (Natalie Sciver).
