Matias Moroni, who scored Argentina's first try in their 43-20 quarter-final win over Ireland, steps down and out of the match squad to make way for Bosch.
Bosch was handed a one-week suspension for a dangerous tackle in Argentina's last pool game against Namibia.
Coach Daniel Hourcade has included the experienced Saracens player for his defensive skills which include making important calls when the team are under pressure.
"Chelo comes back after missing the Ireland match so the team is basically the same apart from that one change," Hourcade said.
"At this stage of the tournament, the best teams remain and Australia are one of the strongest in the world and are having a great World Cup.
"I think the other day, they took a bit of a false step and we're conscious they are better than what they showed against Scotland," he said of the Wallabies' last-gasp 35-34 win in their quarter-final.
"That isn’t the Australia we will face, it’s going to be tremendously hard with the breakdown the key."
There is also one change to the bench with the addition of prop Juan Figallo, who came into the tournament as a late replacement for the injured Nahuel Tetaz Chaparro near the end of the pool stage.
Figallo was an automatic first choice in the Rugby Championship but missed out on the original World Cup squad after surgery on damaged knee ligaments.
Juan Pablo Orlandi, the prop called up in his place for the tournament, makes way.
Team: 1-Marcos Ayerza, 2-Agustin Creevy (captain), 3-Ramiro Herrera, 4-Guido Petti, 5-Tomas Lavanini, 6-Pablo Matera, 7-Juan Fernandez Lobbe, 8-Leonardo Senatore; 9-Martin Landajo, 10-Nicolas Sanchez, 11-Juan Imhoff, 12-Juan Martin Hernandez, 13-Marcelo Bosch, 14-Santiago Cordero, 15-Joaquin Tuculet
Replacements: 16-Julian Montoya, 17-Lucas Noguera, 18-Juan Figallo, 19-Matias Alemanno, 20-Facundo Isa, 21-Tomas Cubelli, 22-Jeronimo de la Fuente, 23-Lucas Gonzalez Amorosino
(Editing by Ed Osmond/Mark Meadows)
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