The Board of Cricket Control in India (BCCI) confirmed, earlier media reports that the opener Sehwag was going to miss the ODI series, along with the paceman Sharma.
In a BCCI statement is confirmed that Sehwag had been suffering frm a hearing problem since July 24 and it "will take two more weeks to recover," while Sharma needs rehabilitation for an injured left ankle which he sustained in third Test at Edgbaston.
The statement said that the selectors have picked uncapped players Ajinkya Rahane and Varun Aaron as replacements.
Rahane is a top order batsman from Mumbai while the pace bowler Aaron plays for captain MS Dhoni's eastern state of Jharkhand.
India play England in a Twenty20 game on August 31 followed by five one-dayers.
Meanwhile, the England batsman Eoin Morgan has been confirmed in the Kolkata Knight Ridersí squad for the Champions League Twenty20 tournament, which starts next month.
The Dublin-born player, who will this week captain England against Ireland in a ODI, had been expected to be part of Kolkataís squad for the event.
Kolkata will enter the competition at the qualifying stage, which will be played in Hyderabad between September 19 and 21, and Morganís inclusion may mean he misses Englandís two Twenty20 matches against the West Indies next month.
The group stage of the tournament gets under way on September 23, with the final scheduled for October 9 in Chennai.