The team comprises Alastair Cook and Hashim Amla as openers, with Kumar Sangakkara, Jacques Kallis, Clarke and Shivnarine Chanderpaul slotting into the middle order. Matt Prior has been chosen as the wicketkeeper, and Saeed Ajmal is the spinner in the XI. The pace attack includes Stuart Broad, Vernon Philander and Steyn. AB de Villiers was chosen as 12th man.
For Amla, Kallis and Sangakkara, this is the third consecutive year that they have made the team, while for Cook and Broad it's the second.
The team was announced alongside the shortlists for the ICC's annual awards ceremony on Thrusday. The players were chosen by a panel consisting of former players - West Indies batsmen Clive Lloyd and Carl Hooper, Sri Lanka opener Marvan Attapatu, Australia allrounder Tom Moody and England Women's captain Clare Connor - based on their performance between August 4, 2011, and August 6, 2012.
Lloyd, who was the chairman of the selection panel, said apart from statistics, the playing conditions encountered by the cricketers were taken into account while picking the team. "The selectors did utilise a vast amount of statistics from the period under observation, but we also took into account all other factors like the opposition, pitch conditions, match situation etc.
"The process of selection was a difficult one, with a lengthy debate between the panel on all the top performances during the voting period, and various combinations were considered."
The ICC ODI Team of the Year will be announced prior to the awards function, which is set for September 15 in Colombo.
ICC Test Team of the Year 2011-12: Alastair Cook, Hashim Amla, Kumar Sangakkara, Jacques Kallis, Michael Clarke (capt), Shivnarine Chanderpaul, Matt Prior (wk), Stuart Broad, Saeed Ajmal, Vernon Philander, Dale Steyn, AB de Villiers (12th man)