Chelsea's John Terry and Frank Lampard, who both missed Capello's first match in charge, return to the 30-man provisional squad after recovering from injuries which kept them out of last month's 2-1 win over Switzerland.
The England squad will be cut down to a final group of 23 on Saturday night, even though many of the players will be involved in the Manchester United v Liverpool and Chelsea v Arsenal Premier League matches on Sunday.
Franco Baldini, Capello's assistant, watched Beckham in an LA Galaxy friendly in Dallas at the weekend, with the midfielder obviously doing enough to convince the Italians that he is fit enough to win his 100th cap at the Stade de France.
Capello, who managed Beckham at Real Madrid, left the 32-year-old midfielder out of his squad to face Switzerland but made it clear at the time that he was willing to extend his international career.
Lennon misses out
Aaron Lennon, Tottenham winger, was the man who missed out at the expense of Beckham, but the MLS player is not expected to dislodge Blackburn's David Bentley from Capello's starting line-up.
Bentley has been in excellent form for his club and was arguably England's most impressive performer in their win over Switzerland.
Capello's biggest surprise was the inclusion of Walcott, who is not yet a first-team regular at Arsenal but has produced some effective performances as a substitute this season.
The now 19-year-old became the youngest England international in history when he made his debut against Hungary in a pre-World Cup friendly in May 2006, but that remains his one and only cap, even though he was included in England's 2006 World Cup squad.
No announcement was made over the re-appointment of Steven Gerrard as captain following the return of Terry, who served as skipper throughout the short-lived reign of Capello's predecessor, Steve McClaren.
Capello has said he will only decide on a long-term captain prior to the start of England's 2010 World Cup qualifying campaign later this year.
England provisional squad:
Goalkeepers: David James (Portsmouth), Scott Carson (Aston Villa), Chris Kirkland (Wigan)
Defenders: Wayne Bridge (Chelsea), Ashley Cole (Chelsea), Glen Johnson (Portsmouth), John Terry (Chelsea), Wes Brown (Man Utd), Joleon Lescott (Everton), Rio Ferdinand (Man Utd), David Wheater (Middlesbrough), Jonathan Woodgate (Tottenham), Matthew Upson (West Ham)
Midfielders: Gareth Barry (Aston Villa), Ashley Young (Aston Villa), David Bentley (Blackburn), Joe Cole (Chelsea), Frank Lampard (Chelsea), Shaun Wright-Phillips (Chelsea), David Beckham (Los Angeles Galaxy/USA), Steven Gerrard (Liverpool), Owen Hargreaves (Man Utd), Stewart Downing (Middlesbrough), Jermaine Jenas (Tottenham)
Forwards: Theo Walcott (Arsenal), Gabriel Agbonlahor (Aston Villa), Peter Crouch (Liverpool), Wayne Rooney (Man Utd), Michael Owen (Newcastle), Jermain Defoe (Portsmouth)