Alvarez and Otamendi named in Argentina squad for Olympics
The 18-man Olympic squad is being coached by Javier Mascherano and the two-time gold medal winner called up Otamendi and 32-year-old goalkeeper Geronimo Rulli among his overage players.
Both Manchester City's Alvarez and Benfica's Otamendi have already played over 50 games this season for club and country.
Along with Rulli, who is also in the Copa America squad, the trio are set to join Mascherano's squad after the tournament, where Argentina are in the quarter-finals.
World Cup winner and Argentina captain Lionel Messi had already ruled out playing at the Olympics, with the 37-year-old citing the need to manage his workload.
The men's football tournament at the Olympics begins on July 24, just 10 days after the Copa America final. Argentina are grouped with Morocco, Iraq and Ukraine in the 16-team tournament.
Argentina Olympic squad
Goalkeepers: Leandro Brey, Geronimo Rulli
Defenders: Marco Di Cesare, Julio Soler, Joaquin Garcia, Gonzalo Lujan, Nicolas Otamendi, Bruno Amione
Midfielders: Ezequiel Fernandez, Santiago Hezze, Cristian Medina, Kevin Zenon
Forwards: Giuliano Simeone, Luciano Gondou, Thiago Almada, Claudio Echeverri, Julian Alvarez, Lucas Beltran