Opener Conway sustained a concussion in a collision with paceman Matt Henry in training during the one-day series against the tourists.
All-rounder Ravindra dislocated his shoulder while filming a diving catch during a promotional shoot in September and has not played in either the ODI or Twenty20 series against India.
Wicketkeeper-batsman Blundell is recovering from a quadricep injury and has played just one domestic match since June.
New Zealand's last test series was in England in June, which they won 2-1. Kane Williamson retired from international cricket after the series.
The other changes to the squad from the England tour are the addition of fast bowler Jacob Duffy and the absence through injury of all-rounder Zak Foulkes as well as pacemen Will O'Rourke and Ben Sears.
"The squad is largely consistent with the team that competed in England earlier this year, so it'll be great to be back together to try and recreate some of that success on home soil," said coach Rob Walter.
"We've experienced great crowds so far during the white-ball series and we're really looking forward to having that support during the tests."
The first test starts at Basin Reserve in Wellington next Wednesday with the second taking place at the Hagley Oval in Christchurch from November 27.
New Zealand Test squad:
Tom Latham (captain), Tom Blundell, Devon Conway, Jacob Duffy, Matt Henry, Kyle Jamieson, Daryl Mitchell, Henry Nicholls, Glenn Phillips, Rachin Ravindra, Mitchell Santner, Nathan Smith, Blair Tickner, Will Young
