Davison scored a 67-ball century in the 2003 finals in South Africa
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Canada will be captained by John Davison, who holds the record for the fastest World Cup century, in the 2007 tournament in the West Indies.
The Australia-based all-rounder cracked a 67-ball hundred in the 2003 event.
The Canadians have just two professionals in their 15-man squad, but coach Andy Pick is confident the North Americans can make an impression.
"We've got six or seven players who can single-handedly alter the result of the game," said Pick.
"They're good enough players to put in a game-changing performance."
The squad includes a forklift driver, accountant, salesman, and teacher.
Canada are in Group C matches alongside England, New Zealand and fellow minnows Kenya.
Their only win in six matches at the 2003 World Cup was a 60-run victory against Bangladesh and they set the lowest score in the competition's history when they were dismissed for just 36 by Sri Lanka.
Canada start their campaign on 14 March against Kenya before playing England on 18 March and then New Zealand on 22 March.
The Kenyans defeated Canada by 158 runs in the recent World League tournament, but the Canadians know the first game represents their best chance at an upset.
"We have to be realistic," said Pick.
"Most times out of a hundred, our best chance at winning a game would be against Kenya.
"If England and New Zealand play their best cricket, that will be better than our best cricket.
"What we have to aim for is not to compete with those guys, but to compete with ourselves. If we produce our best game and they don't, that's when the underdog wins."
Canada: John Davison (captain), Ashish Bagai, Ian Billcliff, Geoff Barnett, Kevin Sandher, Umar Bhatti, Desmond Chumney, George Codrington, Austin Codrington, Andy Cummins, Sunil Dhaniram, Asif Mulla, Henry Osinde, Abdool Samad, Qaiser Ali.