The pace bowler has taken 309 Test scalps in 71 five-day games with an average of 22.10.
The Australian chair of selectors the selector has confirmed that pace spearhead Cummins will be a central figure in the upcoming England-Australia contest.
There were concerns that the veteran bowler might sit out due to a persistent back stress problem that was still troubling him.
Previous updates from team management suggested no official announcement had been made regarding his involvement, with the five-Test series scheduled to begin on 21 November in Perth.
He revealed that Cummins is "building up" and felt positive about the prospects of participating.
"We know that time is getting short and there are permutations at play, not just his injury, but further aspects," the selector added.
"It's positive. There's strong faith that he will feature a key capacity. Ideally from the opening match. Should that not happen, we'll reassess."
Injury History
Cummins was ruled out Australia's limited-overs series against New Zealand and India recently after medical tests showed a lower back issue.
He has a history of back injuries, with recurrences in 2012-13, 2013-14 and 2015-16 leading to absences from multiple domestic campaigns in a limited period.
He emphasized he would be proactive in his approach in his recovery plan to make the squad for the contest.
Bailey noted that he did not know if the captain had resumed bowling as part of his rehabilitation but acknowledged it was "becoming urgent" for him to recover fully for the first Test.
Backup Options
Should Cummins not be fit, veteran batsman Smith will lead the side.
Versatile player Green was recently pulled out from Australia's squad for their ODI contests against the Asian giants as a precautionary measure because of soreness in his side.
Bailey described it as a "minor" injury and stated that Green will play in the Sheffield Shield, so will be "in a good place to be ready to bowl."
"We put so much time has gone into building out the plan for him to be available for the opening match as an dual-role player," Bailey explained.
"He was only going to play the initial matches anyway. His aggressive style the cricket bat in white-ball cricket, even if it just sets him back for a short period, the choice was made to approach this more conservatively."
Fixture Details
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