Manchester City's highly-rated midfielder Johnson is uncapped, while some predicted Cole would miss out after an injury-hit season at Chelsea.
Capello overlooked Manchester United veteran Gary Neville in defence, but did select Jamie Carragher after convincing the Liverpool defender to come out of international retirement.
Tottenham pair Ledley King and Michael Dawson also made the first cut, along with Everton's Leighton Baines and Stephen Warnock of Aston Villa.
In midfield, Gareth Barry has was deemed fit enough to join the party. Capello did not pick Owen Hargreaves as had been widely reported, but there were spots for West Ham's Scott Parker and Tom Huddlestone of Tottenham.
There was no place for in-form Fulham striker Bobby Zamora among the strikers, with Capello opting instead for Sunderland's Darren Bent.
PROVISIONAL ENGLAND SQUAD
Joe Hart, David James, Robert Green
Leighton Baines, Jamie Carragher, Ashley Cole, Michael Dawson, Rio Ferdinand (captain), Glen Johnson, Ledley King, John Terry, Matthew Upson, Stephen Warnock
Gareth Barry, Michael Carrick, Joe Cole, Steven Gerrard, Tom Huddlestone, Adam Johnson, Frank Lampard, Aaron Lennon, James Milner, Theo Walcott, Scott Parker, Shaun Wright-Phillips
Darren Bent, Peter Crouch, Jermain Defoe, Emile Heskey, Wayne Rooney