The Cranes are preparing to travel to play Botswana in a 2017 Africa Cup of Nations next month.
The 21-year-old was born in London and lived in Germany but qualifies to play for Uganda through his parents.
Sredojevic feels he will bring the experience of playing in a top league to the squad.
Lorenzen has played nine times for Werder Bremen in the Bundesliga this season and has agreed in principle to play for Uganda pending the necessary paperwork being completed.
"The team will start training next week before we reduce the number ahead of a friendly against Zimbabwe," Sredojevic said.
Uganda are currently second in Group D behind Burkina Faso, thanks to their better head-to-head record, with both sides on seven points.
Iraq-based midfielder Hassan Wasswa and Mike Azira who plays for Colorado Rapids in Major League Soccer in the US with Colorado Rapids are also included.
Striker Farouk Miya, who has just signed a three-year contract extension with Belgian club Standard Liege, looks set to lead the attack for the Cranes along with Emmanuel Okwi , who plays in Denmark.
However there is no place for the top-scorer in the local league Robert Ssentongo, who plays for URA.
One surprise omission is defender Alex Kakuba, who helped Feirense qualify for Portugal's Premeira Liga last weekend, while his club team-mate Kizito Luwagga is included.
Uganda Squad:
Goalkeepers: Dennis Onyanyo (Mamelodi Sundowns, South Africa), Robert Ondongkara (St George, Ethiopia), Salim Jamal Magola (El Merriekh, Sudan)
Defenders: Denis Iguma (Al Ahed, Lebanon), Isaac Isinde (St George, Ethiopia), Murushid Jjuuko (Simba, Tanzania), Hassan Wasswa Mawanda (Al Shorta, Iraq), Joseph Ochaya (KCCA, Uganda)
Midfielders: Mike Azira (Colorado Rapids, MLS), Moses Oloya (Becamex Binh Duong, Vietnam), Aucho Khalid (Gor Mahia, Kenya), Tonny Mawejje (Thottur, Iceland), William Kizito Luwagga (Feirense, Portugal), Godfrey Walusimbi (Gor Mahia, Kenya)
Strikers: Farouk Miya (Standard Liege, Belgium), Davis Kasirye (Rayon Sports, Rwanda), Edrisa Lubega (Proline, Uganda), Erisa Ssekisambu (Vipers, Uganda), Geofrey Massa (Bloemfontein Celtics, South Africa), Emmanuel Okwi (Sondyerske, Denmark), Lorenzen Melvyn (Werder Bremen, Germany)
