"It's happy days, it's awesome. It's exactly what you want to achieve when you're a young boy," said Warburton.
"All the players were very excited with the announcement and the boys who aren't involved have been very supportive.
"They know there's every chance they could get back into the Test team. It's the first one of three, so there's a long way to go and players have still got every chance of being involved.
"Personally, I'm absolutely delighted. It's where you want to be. Even though they've announced the team, I still feel pretty relaxed at this stage. I won't feel the nerves until matchday in any game I play so I'm just enjoying it at the moment."
Of the 11 players who turned out for RaboDirect PRO12 sides last term, it is the Blues and Leinster - Brian O'Driscoll, Jonny Sexton and Jamie Heaslip - who boast the largest representation with three.
The Ospreys, who have Alun Wyn Jones and Adam Jones, and the Scarlets (George North and Jonathan Davies) have two while Munster's Paul O'Connell is the other RaboDirect PRO12 player in the XV.
On the bench, Ospreys hooker Richard Hibbard lines up alongside departing Newport Gwent Dragons flanker Dan Lydiate and Glasgow Warriors flyer Sean Maitland.
"We are now at the business end of the tour. You can feel the excitement and commitment within the squad now that we are back in Brisbane and the first Test is just days away," said Lions tour manager Andy Irvine, who is also chairman of the RaboDirect PRO12.
"I congratulate all the players who are making their Lions Test debut on Saturday. Playing against the Wallabies for the Lions is a major milestone in a player's career and I am confident they will all uphold the history and tradition of the Lions by giving their all."
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