The 28-year-old back row is one of 127 men to have captained Wales but is set to become only the fifth man to skipper the Dragons on 20 occasions.
Jones made his international debut against South Africa in 2004 and now has a total of 34 caps to his name, with 19 of them already coming as captain.
Elsewhere in the Welsh line up, coach Warren Gatland makes just one change from the side that comfortably defeated Argentina last time out.
Former Scarlets scrum-half Dwayne Peel comes in for Gareth Cooper, with the Blues No9 dropping out of the matchday squad all together.
Cooper will still have the chance to face the Aussies, however, as he starts for the Blues against an Australian XV at the Cardiff City Stadium this evening.
Peel becomes the only non-Magners League player to start for Wales this autumn, with Gatland naming five Ospreys, five Blues, three Scarlets and Luke Chateris of the Dragons in his first XV.
Young Dragons flanker Dan Lydiate is again chosen among the replacements, a week after making his debut against the Pumas.
"We were pretty pleased with the performance against Argentina," said Gatland.
"We matched them up front, our defence held up well and we are starting to show a more clinical edge in attack.
"Dwayne comes into the side in a straight swap for Gareth, allowing two Welsh scrum-halves a shot at the Wallabies in the space of a week and ensuring both players have the chance to benefit from the experience.
"That decision is primarily about putting the interests of the player and of Welsh regional rugby first, but elsewhere we are looking for the same again from the bulk of the side who beat the 2007 World Cup semi-finalists.
"There is still improvement left in us and we feel we need to go up a couple more gears if we are to achieve what we want against Australia, but we are coming to the end of the Series and the players feel they are starting to get into their stride.
"The level of performance is improving throughout the squad as we spend more and more time together and we hope to get a little nearer the peak of our powers at the weekend."
Wales (vs Australia, Millennium Stadium, Saturday, November 28, kick off 5.15pm)
James Hook (Ospreys), Leigh Halfpenny, Jamie Roberts (Both Blues), Jonathan Davies (Scarlets), Shane Williams (Ospreys), Stephen Jones (Scarlets), Dwayne Peel (Sale Sharks); Gethin Jenkins (Blues), Matthew Rees (Scarlets), Paul James, Alun-Wyn Jones (Both Ospreys), Luke Charteris (Dragons), Andy Powell, Martyn Williams (Both Blues), Ryan Jones (Ospreys, captain)
Replacements: Huw Bennett, Duncan Jones, Jonathan Thomas (all Ospreys), Dan Lydiate (Dragons), Martin Roberts (Scarlets), Andrew Bishop (Ospreys), Tom James (Blues)
Guinness PRO12
Suite 208, Alexandra House,
The Sweepstakes
Ballsbridge, Dublin 4, Ireland