Dost was called up in 2012 by Louis van Gaal for a friendly with Belgium but did not feature in the match.
However, the 25-year-old is in line to earn his first cap for his country following a season that has seen him score 16 goals in all competitions for a Wolfsburg side that sits second in the Bundesliga.
Coach Guus Hiddink has also brought forward Eljero Elia in from the international wilderness.
Elia, who has been a regular since joining Premier League side Southampton on loan from Werder Bremen in January, last played for Netherlands in a 0-0 draw with Germany in November 2012.
There is no place in the 28-man squad for Manchester United striker Robin van Persie, who is out with an ankle injury.
Netherlands take on Turkey at the Amsterdam Arena on March 28 before hosting reigning European champions Spain three days later.
Squad in full:
Goalkeepers: Jasper Cillessen (Ajax), Tim Krul (Newcastle United), Kenneth Vermeer (Feyenoord), Jeroen Zoet (PSV)
Defenders: Jeffrey Bruma (PSV), Stefan de Vrij (Lazio), Daryl Janmaat (Newcastle United), Bruno Martins Indi (Porto), Sven van Beek (Feyenoord), Gregory van der Wiel (Paris St Germain), Ricardo van Rhijn, Joel Veltman (both Ajax), Ron Vlaar (Aston Villa), Jetro Willems (PSV)
Midfielders: Ibrahim Afellay (Olympiacos), Daley Blind (Manchester United), Jordy Clasie (Feyenoord), Nigel de Jong (Milan), Wesley Sneijder (Galatasaray), Georginio Wijnaldum (PSV)
Forwards: Luuk de Jong, Memphis Depay (both PSV), Bas Dost (Wolfsburg), Eljero Elia (Southampton), Klaas-Jan Huntelaar (Schalke), Luciano Narsingh (PSV), Quincy Promes (Spartak Moscow), Arjen Robben (Bayern Munich)
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