The 32-year-old former Barcelona man had hoped to play a part in Brazil's bid for Olympic gold in London but instead has paid the price for his inconsistent recent form with club side Flamengo.
David Luiz of Chelsea, AC Milan's Thiago Silva, Daniel Alves of Barcelona, Marcelo of Real Madrid and Hulk of Porto are among the players named in coach Mano Menezes' 23-man squad for the Games, along with Santos starlet Neymar.
"Supporters need to understand that sometimes they think one man can be the solution to all of Brazilian football's problems and it does not work out like that," said Menezes.
"Now is the time to look at younger options."
Brazil's Olympic hopefuls will face Denmark in Hamburg, Germany on May 26, the United States on May 30, Mexico on June 3 and Argentina on June 9.
Menezes will then confirm his final 23-man squad for the Olympics on July 6.
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