Wheldon, who was killed in a 15-car accident during Sunday's IndyCar race in Las Vegas, was due to take part in the event at Surfers Paradise.
He was to be co-driver for V8 Supercar champion James Courtney in two 300km touring car races.
Turner, a former test driver for McLaren, will now compete in the event.
A tribute to Wheldon is planned during the weekend's events.
V8 Supercars acting chief executive officer Shane Howard said: "It was a very sad situation for everyone after Dan's death on Sunday.
"The offers of support from all levels of the international motorsport community have been amazing and it really makes you proud to be a part of this business.
"Obviously we were looking forward to having Dan, Will and Tony with us, but our thoughts are with them and their families at this time."