O'Connell, who will take over as skipper against Australia and New Zealand later this month, has been recovering from a calf muscle problem.
Wing David Kearney could also win a first cap after being named on the bench on Thursday.
With Jonathan Sexton out due to a hip injury, Paddy Jackson will start at flyhalf.
New Zealander Schmidt, a double Heineken Cup-winning coach with Leinster, took charge in July after replacing Declan Kidney.
Team: 15-Rob Kearney, 14-Tommy Bowe, 13-Brian O'Driscoll, 12-Gordon D'Arcy, 11-Fergus McFadden, 10-Paddy Jackson, 9-Conor Murray, 8-Jamie Heaslip, 7-Chris Henry, 6-Peter O'Mahony, 5-Devin Toner, 4-Mike McCarthy, 3-Mike Ross, 2-Rory Best, 1-Jack McGrath
Replacements: 16-Sean Cronin, 17-Cian Healy, 18-Declan Fitzpatrick, 19-Paul O'Connell, 20-Sean O'Brien, 21-Eoin Reddan, 22-Ian Madigan, 23-David Kearney
(Writing by Justin Palmer in London, editing by Ed Osmond)
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