Warren Gatland has selected the towering lock as skipper for the clash with the Super Rugby high-flyers in Hamilton just four days before the second Test against New Zealand.
Back-rower Ellis Jenkins starts in a much-changed side after making his Test debut from the bench in Saturday's 39-21 defeat to the All Blacks at Eden Park.
Gareth Davies and Rhys Priestland make up the half-back pairing, with Scott Williams and Tyler Morgan getting the nod in midfield.
Rob Evans, Scott Baldwin and Tomas Francis have been named in the front-row, with Jake Ball partnering Charteris in the second-row.
"Tuesday is a huge opportunity for these players, they have trained hard and are ready to get game time under their belts," said Wales head coach Gatland. "Coming all the way to New Zealand, it was important we had a big enough squad for the three tests but also to provide game time for the players on tour and this match gives the players a chance to stake their claim for the final two tests against the All Blacks. "We were hosted fantastically well by the people of Waikato in the 2011 Rugby World Cup, so it's great to be back and to give something back to the region. "The Chiefs are without a number of their All Blacks but still boost a strong side and from my playing days I know they will be right up for the fixture against a touring nation."
Wales team: Matthew Morgan, Eli Walker, Tyler Morgan, Scott Williams, Tom James, Rhys Priestland, Gareth Davies, Rob Evans, Scott Baldwin, Tomas Francis, Jake Ball, Luke Charteris, Josh Turnbull, Ellis Jenkins, James King.
Replacements: Kristian Dacey, Aaron Jarvis, Rhodri Jones, Bradley Davies, Ross Moriarty, Aled Davies, Gareth Anscombe, Rhys Patchell.