Sinner was scheduled to compete in both singles and doubles at Roland Garros.
His departure from the tournament means Novak Djokovic will secure the top seed in the singles when the draw takes place on Thursday.
Several players will be absent from the Paris Games due to various health issues or injuries.
On Wednesday, Denmark’s Holger Rune, currently ranked 16th in the world, revealed he is withdrawing because of wrist pain.
“I’m truly disappointed that I won’t be able to participate in the Olympics. It was an event I’ve been eagerly anticipating,” Rune stated on X.
Marketa Vondrousova, who won a silver medal in Tokyo three years ago, withdrew on Tuesday due to a hand injury, along with Polish world number seven Hubert Hurkacz.
Other significant omissions include Britain’s Emma Raducanu, world number three Aryna Sabalenka, and two-time Wimbledon finalist Ons Jabeur.
However, Djokovic, Wimbledon champion Carlos Alcaraz, and US Open winner Coco Gauff are all confirmed to participate.
The Olympics will be held just 13 days after Wimbledon concludes and wrap up three weeks before the US Open starts.
