The World Cup holders play their first game of 2015 against Asia's champions in Kaiserslautern, before continuing their Euro 2016 qualification campaign against Georgia on Sunday.
Bayern Munich goalkeeper Neuer will not feature on Wednesday but Holger Badstuber and Ilkay Gundogan will likely play along with captain Bastian Schweinsteiger after their respective injury troubles.
"Manuel Neuer will not play against Australia. He has a knee problem so we won't risk him and he will play on Sunday," Low told a news conference.
"I'm still not 100 per cent sure on how we will set up against Australia but it's possible that players who played [for their clubs on] Sunday will rest.
"Holger and Ilkay will probably play but I don't think it is necessary to select too many younger players at this stage of the season.
"It's nice that Bastian is back on board. It is important for our young players and for us as leaders in the coming weeks.
"Whether Schweinsteiger plays from the start against Australia, I have not decided, but I'm willing to try a few things against Australia."
Ron-Robert Zieler or Roman Weidenfeller will likely come in for Neuer, although emerging talents such as Emre Can, Kevin Volland, Max Meyer and Leon Goretzka will need to wait to become Germany regulars.
The quartet are not in the current squad, with Low urging them to make a name for themselves at the Under-21 European Championships in June.
"Winning the Under-21 Euros in 2009 gave young players a push for the World Cup in 2010," he added.
"Players like Can, Volland, Meyer, Goretzka need the same. They should play at the Under-21 Euros."
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