Off-contract Walsh was assessing his options after a gutting fourth-place finish in Paris this year, when the world champions lost their way on finals day to miss the podium.
But the long-time mentor - he took the side to Rio gold before a brief stint as men's coach - has stayed on, and will usher in some fresh faces when the world series begins in Dubai on November 30.
Demi Hayes will return from a long-term injury while Kahli Henwood - an injury replacement in Paris - will earn her first world series cap and Kiiahla Duff will also debut.
Bienne Terita will miss the series opener with injury while Sharni Smale and Dom du Toit have retired.
But Walsh, along with long-time star Charlotte Caslick and game-changing sisters Maddison and Teagan Levi, will be back for more.
"We have had a rejuvenating pre-season balanced with elite standards and positive attitudes," Walsh said."We have enjoyed the mental and technical challenges and are determined to start the world series where we finished last season, as champions."We are like fine wine and want to get better with age and strongly believe the best is yet to come."
There has been even greater movement in the men's team, with coach John Manenti leaving to coach in San Diego in Major League Rugby, player of the year Nathan Lawson moving to the NRL with St George Illawarra and captain Nick Malouf retiring.
Experienced players Henry Hutchison, Hayden Sargeant, Matt Gonzalez, Ben Dowling, James Turner and Henry Paterson will play in Dubai, but Josh Turner and Tim Clements are no longer in the program.
New coach Liam Barry has named Aden Ekanayake and Sid Harvey to debut in Dubai.
"Since Paris we have had several changes with a number of experienced players and key staff from both programs departing and I want to acknowledge how well the players have applied themselves during the adjustments in preparing for the start of the season," Rugby Australia performance manager Scott Bowen said.The women kick off their Dubai tournament against China while the men's team face South Africa in their first pool match.
WOMEN: Faith Nathan, Teagan Levi, Charlotte Caslick, Tia Hinds, Isabella Nasser, Demi Hayes, Maddison Levi, Heidi Dennis, Bridget Clark, Kahli Henwood, Ruby Nicholas, Kiiahla Duff, Sariah Paki.
MEN: Henry Hutchison, Ben Dowling, Henry Palmer, Henry Paterson, James McGregor, Matt Gonzalez, Ben Dalton, Nathan Lawson, James Turner, Sid Harvey, Aden Ekanayake, Hayden Sargeant, Michael Icely.
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