Walcott reported for duty on Monday with a slight thigh problem which has not eased sufficiently for Hodgson to think it worthwhile for the Arsenal winger to make the journey to Switzerland.
"Walcott reported with a slightly bruised thigh and was unable to train fully, so has returned to his club as a precaution," a statement on the FA website read.
Gunners colleague Alex Oxlade-Chamberlain, plus keeper Joe Hart and striker Daniel Sturridge have also pulled out, but Hodgson has opted not to bring in any replacements, other than Joleon Lescott who was called up on Monday.
The new PUMA evoSPEED 1.2 FG. A great new soccer cleat with classic look and first time for PUMA to be on the cleat.
The Juventus jersey for the 2013/14 was released earlier this week. Be the first to wear the colors of the Old Lady.
The push for more color on their cleats, adidas has added the infrared colorway to the adiZero f50 Line.
Borussia Dortmund hears Wembley Calling and are headed to London for the Champions League final.
adidas has added some color to the Predator line with this new colorway. Released on May 17. Be the first to own a pair.
Chelsea won the Europa League on Wednesday. The Blues defeated Benfica 2-1 on injury time goal from Ivanovic.
Ajax has released their away soccer jersey for the 2013/14 season. Get in the Gear.
The Liverpool 2013/14 soccer jersey is available for pre-order. The Reds are eager to compete for silver next season.
The adidas Nitrocharge is the most talked about new cleat in years. It was released on May 15 and will take your pitch by storm.
Bayern Munich are kings of Germany and hope to be crowned kings of Europe at Wembley later this month!