Another pacer Rubel Hossain was also picked for the first Test, a news website reported.
Taskin is a regular in the limited-overs lineup. But taking injury risks into account, the selectors had kept him away from five-day cricket until now.
Hints at the 21-year-old's call-up in Tests against New Zealand had come earlier.
Taskin has been opted out of the ongoing T20 series to keep him fresh for the Test series. New Zealand, however, took an unassailable 2-0 lead in the 20-over version with a match to spare on Friday.
The tall youngster last played his first-class match in February 2013. His wicket tally stands at 24 from 10 matches at an average of 29, with best figures of 4/66 in an innings, and 5/107 in a match.
The first Test is set to start on January 12 in Wellington.
Bangladesh were without the services of their Test captain Mushfiqur behind the stumps since he suffered a hamstring injury in the opening ODI in Christchurch. The Bangladesh middle order lynchpin will be back in action in Wellington.
Spin allrounder pair Mosaddek Hossain and Shuvagata Hom Chowdhury were dropped from the squad that played against England in Dhaka towards the end of last year.
After being handed a maiden Test call up in the match against England, right-arm seamer Subashis Roy, however, made the cut though he warmed the bench in Mirpur during the home series.
Bangladesh also named prodigious spinner Mehedi Hasan Miraz and southpaw Taijul Islam to pair up with Shakib Al Hasan.
Despite not making the playing eleven yet, Soumya Sarkar retained his spot in the squad.
Bangladesh squad for 1st Test:
Mushfiqur Rahim (Captain), Tamim Iqbal (Vice Captain), Imrul Kayes, Mominul Haque, Sabbir Rahman, Mahmudullah, Shakib Al Hasan, Mehedi Hasan Miraz, Taijul Islam, Rubel Hossain, Kamrul Islam Rabbi, Soumya Sarker, Taskin Ahmed, Nurul Hasan Sohan, Shubashis Roy.