The International Cricket Council (ICC), in a press release, announced the one-day international team of the year 2011-12 on Friday.
The list includes three Indians - Mahendra Singh Dhoni, Virat Kohli and Gautam Gambhir.
While Dhoni leads the ICC ODI team of the year, he is also the wicket-keeper of the side for the fifth year in a row.
Incidentally, India has the maximum players featuring in the coveted list at 3. England (2) - Alastair Cook and Steven Finn, Sri Lanka (2) - Kumar Sangakkara and Lasith Malinga, Australia (2) - Michael Clarke and Shane Watson (12th man), Pakistan (2) - Shahid Afridi and Saeed Ajmal and South Africa (1) - Morne Morkel.
It has been a great year for Dhoni and Gambhir in the ODIs but Virat Kohli's heroics do stand out. The Indian skipper has amassed 859 runs in 25 matches at a staggering average of 78.09, also guiding India to 14 victories in the process. Gautam has scored 1004 runs in 25 matches at 41.83 while Virat Kohli has 1773 runs in 31 matches at 66.65 in the year. While Kohli played, India won 18 matches.
Chairman of the LG ICC Awards selection panel, Lloyd said: "This team, along with the Test Team of the Year was extremely difficult to decide upon but we feel the side has strength to bat well down the order while also having a good variety for any type of conditions when it comes to its bowling attack.
"It's pleasing to include for the first time the likes of Virat Kohli of India, Saeed Ajmal of Pakistan and Steven Finn of England - none of whom have appeared in an ICC ODI Team of the Year before."
ICC Chief Executive David Richardson added: "I think we can safely say that this is one of the strongest ODI Team of the Year selections ever in the LG ICC Awards history.
"With six countries represented and a vast expanse of talent the team would be a challenge to beat for any number of opposition sides. All the members of the squad should be very proud of their selections, the panel had a tough task deciding the final 12 and it is a fantastic achievement to be included. "
Lloyd was joined on the panel by former England Women's captain Clare Connor, former Sri Lanka batsman Marvan Attapatu, former West Indies all-rounder Carl Hooper and Australia's former bowler Tom Moody. Statistics were available as a guide but were not necessarily the overwhelming factor in the choices made.
Openers: Gautam Gambhir and Alastair Cook
Middle-order: Kumar Sangakkara, Virat Kohli, Mahendra Singh Dhoni (captain and wicket-keeper) and Michael Clarke
All-rounders: Shahid Afridi and Shane Watson(12th man)
Bowlers: Morne Morkel, Steven Finn, Lasith Malinga and Saeed Ajmal.