Cheika has gone for a five-three split of forwards and backs on the bench for the match in Salta, as the Wallabies look for a win to avoid the wooden spoon.
They have not finished bottom of the southern hemisphere tournament since 2009 when it was the Tri-Nations. The competition expanded to the Rugby Championship when Argentina joined in 2012.
New Zealand sealed their third successive title with victory over Argentina last week.
Team: 15-Dane Haylett-Petty, 14-Israel Folau, 13-Reece Hodge, 12-Kurtley Beale, 11-Marika Koroibete, 10-Bernard Foley, 9-Will Genia, 8-David Pocock, 7-Michael Hooper (captain), 6-Ned Hanigan, 5-Adam Coleman, 4-Izack Rodda, 3-Taniela Tupou, 2-Folau Faingaa, 1-Scott Sio.
Replacements: 16-Tolu Latu, 17-Sekope Kepu, 18-Allan Alaalatoa, 19-Rob Simmons, 20-Caleb Timu, 21-Nick Phipps, 22-Matt Toomua, 23-Tom Banks
(Reporting by Ian Ransom; Editing by Greg Stutchbury)