Iceland went early with their announcement, even tweeting a YouTube link.
Everton playmaker Gylfi Sigurdsson, who partnered Gunnarsson in the shock Euro 2016 KO of England, is also in the squad despite being out injured for two months.
The former Spurs and Swansea star, 28, is Iceland’s most-influential player, so was always likely to be picked.
Sigurdsson is expected to be be fully fit for the finals, even if his match sharpness might be in doubt.
Hannes Halldorsson (Randers), Runar Runarsson (Nordsjaelland), Frederik Schram (Roskilde); Kari Arnason (Aberdeen), Holmar Eyjolfsson (Levski Sofia), Rurik Gislason (Sandhausen), Sverrir Ingason (Rostov), Hordur Magnusson (Bristol City), Birkir Saevarsson (Valur), Ragnar Sigurdsson (Rostov), Ari Skulason (Lokeren); Birkir Bjarnason (Aston Villa), Samuel Fridjonsson (Valerenga), Johann Gudmundsson (Burnley), Aron Gunnarsson (Cardiff City), Emil Hallfredsson (Udinese), Gylfi Sigurdsson (Everton), Olafur Skulason (Karabukspor), Arnor Traustason (Malmo); Jon Bodvarsson (Reading), Alfred Finnbogason (Augsburg), Albert Gudmundsson (PSV), Bjorn Sigurdarson (Rostov).
Reserve list: Andri Bjarnason (Helsingborgs), Elmar Bjarnason (Elazigspor), Kjartan Finnbogason (Horbens), Jon Fjoluson (Norrkoping), Hjortur Hermannsson (Brondby), Ingvar Jonsson (Sandefjord), Vidar Kjartansson (Maccabi Tel Aviv), Ogmundur Kristinsson (Excelsior), Elias Omarsson (Gothenburg), Kolbeinn Sigthorsson (Nantes), Runar Sigurjonsson (St Gallen, on loan from Grasshoppers), Arnor Smarason (Hammarby).
Iceland will face Nigeria, Croatia and Argentina in Group D.
Iceland coach Heimir Hallgrimsson could still change his squad before the June 4 deadline if fitness doubts persist.