Shinwari will be available for the first five games, with England quick Harry Gurney replacing him for the remainder of the season, while new recruit Faheem will be replaced by Afghanistan allrounder Mohammad Nabi after eight games.
The upcoming season will be Shinwari's second stint in the BBL. He played seven games for Renegades last season, finishing with eight wickets at an economy rate of 6.14. Faheem was the second-highest wicket-taker in the 2019 Pakistan Super League with 21 strikes in 12 innings for Islamabad United after finishing on top of the list in 2018. He has 93 wickets and 558 runs in the 83 T20s he has played since his debut in the format in 2015.
Nabi, meanwhile, will be returning for a third season with the team, having scored 316 runs and picked up 16 wickets in 21 games in the last two seasons. Gurney, who impressed with his variations during their successful 2018-19 season, picked up ten wickets in nine matches then.
"I'm pleased with how we're shaping up," new head coach Michael Klinger said. "Mohammad Nabi and Harry Gurney showed their class last season so we're glad to have them on board for the second half of the home and away season and hopefully finals.
"After winning a title, the competition for spots in the XI is going to be fierce and we feel we've got plenty of options to cover the challenges that we'll be confronted with throughout the season."
Renegades will begin their title defence against Sydney Thunder on December 19 at the Simonds Stadium in Geelong.