Israel Folau has been cleared to return for the Wallabies in Saturday night's Rugby Championship clash with South Africa but Bernard Foley has been dropped to the bench in a major selection shock.

Folau missed the second Bledisloe Cup Test with an ankle injury but has been named to make his return at fullback, bumping Dane Haylett-Petty back out to the wing.

It's a major boost to Australia's hopes of victory but other parts of the backline have undergone significant alterations.

Coach Michael Cheika has benched chief playmaker Foley, handing Kurtley Beale the five-eighth role and promoting Matt Toomua to inside centre.

Foley has started in his past 51 Test appearances - all but five of them in the No.10 jersey.

Beale, meanwhile, hasn't started in that position since 2014.

It means a new-look Wallabies outfit will take the field at Suncorp Stadium as they look to restore some pride against the Springboks following back-to-back Bledisloe batterings.

Cheika has kept his forward pack largely in tact but has swapped second-rower Izack Rodda out for Rory Arnold.

That indicates David Pocock has been given the green light to play despite concerns over his neck.

There are, however, sweeping changes amongst the reserves.

Taniela Tupou has recovered from a hamstring issue and will come in for Sekope Kepu, while the demotion of Rodda and Jack Maddocks to the bench means no room for Rob Simmons or Tom Banks in the team.

Nick Phipps (ribs) is also out, with Joe Powell the replacement halfback, and Ned Hanigan is in for flanker Pete Samu.

WALLABIES: Israel Folau, Dane Haylett-Petty, Reece Hodge, Matt Toomua, Marika Koroibete, Kurtley Beale, Will Genia, David Pocock, Michael Hooper (captain), Lukhan Tui, Adam Coleman, Rory Arnold, Allan Alaalatoa, Tatafu Polota-Nau, Scott Sio. Reserves: Folau Faingaa, Tom Robertson, Taniela Tupou, Izack Rodda, Ned Hanigan, Joe Powell, Bernard Foley, Jack Maddocks.