The Premier League winner has struggled to perform consistently this season but was still named in the list due to his exploits in 2016-17.
Vardy netted 19 Premier League goals last term and set a new league record for scoring in consecutive games.
Former Leicester team mate N’Golo Kante, now with Chelsea, has also earned a place in the running, while fellow Premier League stars Hector Bellerin, Kevin De Bruyne and Dimitri Payet have been also been named.
16 Premier League players have been included but there is no place for Manchester United and England captain Wayne Rooney.
The World XI will be announced in January with the remaining 44 players sorted into second, third, fourth and fifth teams.