Jovanovski replaces injured Ducks defenceman Scott Niedermayer while McDonald takes the place of Detroit Red Wings winger Henrik Zetterberg.
Jovanovski, 30, will be making his fourth career all-star game appearance. He leads Coyotes defencemen in scoring with 27 points (11-16 assists) in 42 games and ranks second on the club in average ice time per game (23:14).
He led Canucks defencemen in scoring for three consecutive seasons from 2000-01 through 2002-03, was honoured as the Canucks' top defenceman and played in the all-star game in each of those years.
McDonald, 29, will be making his all-star game debut in his sixth NHL season. He ranks second on the Ducks in scoring with 45 points (12-33) in 49 games.