Froome, who won the Vuelta a Espana, will be joined by Steve Cummings in the individual time trial. However neither Froome nor Cummings will ride the road race, where the British roster will be made up of Owain Doull, Pete Kennaugh, Adam Blythe, Mark Christian, Jon Dibben, Tao Geoghegan Hart, Ian Stannard, Ben Swift and Scott Thwaites.
The 2011 road world champion, Mark Cavendish, will not race at the Worlds, while Geraint Thomas is also not part of the final squad. Both Cavendish and Thomas only recently returned to racing after crashing out of the Tour de France in July.
Deignan recently had her appendix removed but will head to the World Championships in Norway as the leader of the women's team. She will be supported by Alice and Hannah Barnes, Elinor Barker, Dani King, Mel Lowther and Hayley Simmonds.
Junior cyclo-cross world champion and junior Paris-Roubaix winner Tom Pidcock is part of the junior men's team and will ride both the time trial and road race.
"Selection for this year's road world championships was a difficult one due to the depth of talent we have in Great Britain across the board, which is a good position to be in," said head coach Ian Dyer.
"I'm delighted to see Chris Froome wishing to finish his season in Great Britain Cycling Team colours after another fantastic year for him and I'm looking forward to seeing him in action on a course which suits his strengths. Equally, I'm pleased to see Lizzie selected for the women's road race following her recent illness. Lizzie will be supported by a full strength women's team which is testament to how much women's cycling is growing in this country in general but also the investment we have made in developing our best female road riders.
Cavendish is the most high-profile absentee. He won the rainbow jersey in Copenhagen in 2011 and took silver behind Peter Sagan last year, but he crashed out of the Tour de France earlier this season and only returned to racing at the Tour of Britain. Another notable rider to not make the plane to Norway is Geraint Thomas. Like Cavendish, he crashed out of the Tour de France, and only returned for the Tour of Britain.
"There are some notable omissions from the squad, such as Mark Cavendish and Geraint Thomas plus Jacob Hennessy from the under-23 squad which is unfortunate but understandable. We are coming to the end of a long season for the road riders and injury and illness becomes inevitable so their decisions to withdraw themselves from selection are respected," Dyer said.
"I believe we are taking a talented squad of riders to this year's world championships with some very real chances of success in each of the squads and I look forward to the racing in Bergen."