The Bianconeri midfielder recently underwent surgery on a slight knee injury but the 27-year-old will go to the tournament in Brazil after making the final 23 for his nationArturo Vidal has been retained in Chile's final World Cup squad as he continues his recovery from a minor knee operation.
The Juventus midfielder had arthroscopic surgery on the lateral meniscus of his right knee last month in a bid to be fully fit for the finals in Brazil.
Although Vidal has yet to play since going under the knife almost four weeks ago, he remains part of coach Jorge Sampaoli's plans.
Chile's 23-man selection was announced on Sunday, with seven players cut from the original party named by Sampaoli on May 13.
Key midfielder Matias Fernandez had already seen his World Cup dreams dashed by an ankle injury.
Experienced centre-back Marcos Gonzalez will also miss out following a lack of playing time in recent months.
There is also no place for O'Higgins duo Paulo Garces and Pablo Hernandez, with Enzo Andia, Rodrigo Millar and Gustavo Canales the other players to have been left out.
Chile face Northern Ireland in Valparaiso on Wednesday, in their final friendly before the World Cup.
Sampaoli's men face a daunting group in Brazil, having been drawn alongside Spain and the Netherlands - the teams who contested the 2010 final - together with Australia.
Squad in full:
Goalkeepers: Claudio Bravo (Real Sociedad), Johnny Herrera (Universidad de Chile), Cristopher Toselli (Universidad Catolica)
Defenders: Miiko Albornoz (Malmo), Gonzalo Jara (Nottingham Forest), Gary Medel (Cardiff City), Eugenio Mena (Santos), Jose Rojas (Universidad de Chile)
Midfielders: Charles Aranguiz (Internacional), Jean Beausejour (Wigan Athletic), Carlos Carmona (Atalanta), Marcelo Diaz (Basel), Jose Pedro Fuenzalida (Colo Colo), Felipe Gutierrez (Twente), Mauricio Isla (Juventus), Francisco Silva (Osasuna), Jorge Valdivia (Palmeiras), Arturo Vidal (Juventus)
Forwards: Fabian Orellana (Celta), Esteban Paredes (Colo Colo), Mauricio Pinilla (Cagliari), Alexis Sanchez (Barcelona), Eduardo Vargas (Valencia)