The 33-year-old batsman's international future has been the subject of speculation since England's humiliating 5-0 loss to Australia in the Ashes, with British media reports suggesting his place was at risk.
However, while he has been called up for the World Twenty20, he is not guaranteed to play in the tournament as the squad will be cut in half following the forthcoming three-match Twenty20 series against Australia.
England limited overs coach Ashley Giles dismissed suggestions that Pietersen's presence in the squad could prove problematic, describing him as a "million-pound" asset.
Asked if he had discussed leaving Pietersen out of the squad with team director Andy Flower, Giles replied: "No. There was no discussion about leaving Kevin out.
"He's another million-pound asset at least. He might be worth a bit more than that. He's a fantastic player and he's shown that in T20 cricket. Kev has been a fantastic player for England for many years."
Provisional 30-man England squad for the 2014 ICC World Twenty20, announced on Wednesday:
Moeen Ali, Jonathan Bairstow, Gary Ballance, Ravi Bopara, Scott Borthwick, Tim Bresnan, Danny Briggs, Stuart Broad (capt), Jos Buttler (wkt), Michael Carberry, Jade Dernbach, Steven Finn, Harry Gurney, Alex Hales, Chris Jordan, Craig Kieswetter (wkt), Michael Lumb, Eoin Morgan, Graham Onions, Steven Parry, Samit Patel, Kevin Pietersen, Boyd Rankin, Joe Root, Ben Stokes, James Taylor, James Tredwell, James Vince, Chris Woakes, Luke Wright