Juventus star Ronaldo, the Portugal captain, took a nine-month break from the national team after the World Cup before playing in the 0-0 draw with Ukraine in the Euro 2020 qualifiers.
Felix earned his first Portugal call-up in March but has yet to make his debut, with the 19-year-old scoring 15 goals in Benfica's title-winning campaign.
"To be able to compete for a title is always important," Portugal coach Fernando Santos said at a news conference on Thursday.
"Our aim is to reach the final and win it. The Portuguese fans always rise to the occasion in important times.
"The criteria to make the squad is quality. Felix is one of 23 players in the squad that can play."
Felix is a reported target for several major clubs despite having a long-term contract with Benfica and a €120m release clause.
Reports in Portugal claimed he had said goodbye to teammates during Wednesday's title celebrations.
Midfielder Pizzi, who scored 13 goals, is one of four Benfica players named by Santos in his squad. The 29-year-old was named by UEFA as the best player of the Portuguese season ahead of Sporting Lisbon captain Bruno Fernandes, also in the squad.
Portugal take on Switzerland in the semifinals in Porto on June 5, with Netherlands facing England in Guimaraes a day later. The final takes place in Porto on June 9.