The relatively young squad for Wednesday's friendly with Netherlands at Wembley also included uncapped Manchester United midfielder Tom Cleverley and Manchester City right back Micah Richards, often ignored by Capello.
However, there was no place for Manchester United defender Rio Ferdinand or Chelsea midfielder Frank Lampard.
Steven Gerrard is back for the first time since November 2010 and is widely expected to be named captain after John Terry had the armband taken away by the FA last month pending his trial on charges of racial abuse, prompting Capello's departure.
Terry was left out of the squad after he aggravated a knee injury this week and is due to undergo exploratory surgery to determine how long he will be out of action.
Pearce, also England Under-21 boss and the British Olympic team manager, said the captain he named would be temporary.
"That will be announced nearer match time. I'm managing on a one-off basis so for me to make it long-term is difficult," the 49-year-old told a news conference where he explained why the experienced Ferdinand and Lampard had been overlooked.
"I don't think I'd learn anything Wednesday evening by watching them play."
Despite his wish to look at young players for the good of whoever takes over for June's European Championships, Pearce named Wayne Rooney even though he is banned for the first two games at the Euros and is currently out with a throat infection.
"I think it's important he is back on an international pitch playing games. It would be too foolish to put too inexperienced a team out there on that pitch," Pearce added.
Tottenham Hotspur manager Harry Redknapp is the bookmakers' favourite to replace Capello for the Euros in Poland and Ukraine, which start on June 8, but former England left back Pearce would be happy to stay in charge for the tournament.
"If they need me to take the squad in the summer I will do that with pleasure," he said, despite having the Olympics in London a month later and previously saying he lacked enough experience.
Goalkeepers: Scott Carson (Bursaspor), Joe Hart (Manchester City), Robert Green (West Ham United).
Defenders: Gary Cahill (Chelsea), Ashley Cole (Chelsea), Leighton Baines (Everton), Glen Johnson (Liverpool), Phil Jones (Manchester United), Micah Richards (Manchester City), Chris Smalling (Manchester United), Kyle Walker (Tottenham Hotspur).
Midfielders: Gareth Barry (Manchester City), Tom Cleverley (Manchester United), Stewart Downing (Liverpool), Adam Johnson (Manchester City), Steven Gerrard (Liverpool), James Milner (Manchester City), Scott Parker (Tottenham Hotspur), Ashley Young (Manchester United), Theo Walcott (Arsenal).
Forwards: Darren Bent (Aston Villa), Fraizer Campbell (Sunderland), Daniel Sturridge (Chelsea), Wayne Rooney (Manchester United), Danny Welbeck (Manchester United).
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