After being named in the provisional squad, the Wolves front man has been omitted from Giovanni Trapattoni's 23-man squad ahead of forthcoming qualifiers
The 29-year-old striker, who has been capped 53 times for his country, has scored just six goals in 34 league games this season and has been placed on a standby list by Trapattoni.
Others who have failed to make the squad are Spartak Moscow winger Aiden McGeady and Hull City defender Paul McShane, who have been ruled out due to injury, while Stephen Ward, Joey O'Brien and Alex Pearce have been demoted to the standby list.
Speaking about his squad decision, Trapattoni stated his belief that the 23-man squad that he chose is capable of getting positive results against Sweden and Austria.
He said: "As a manager, I am sometimes faced with some very tough decisions, but I feel that the squad I have chosen will get us the results we need from these two qualifiers.
"I have not made these choices lightly, and will continue to monitor each player's progress ahead of our next challenges in May and June."
Ireland take on Sweden on Friday, March 22 before welcoming Austria to Dublin on Tuesday, March 26.
Full Ireland squad
Forde (Millwall), Westwood (Sunderland), Randolph (Motherwell), O'Shea (Sunderland), St Ledger (Leicester City), Clark (Aston Villa), Wilson ( Stoke City), Coleman (Everton), Kelly (Reading), O'Dea (Toronto), Whelan (Stoke City), McCarthy (Wigan Athletic), Green (Leeds United), Hoolahan (Norwich City), Hendrick (Derby County), McClean (Sunderland), Keogh (Millwall), Brady (Hull City), Keane (LA Galaxy), Long (West Bromwich Albion), Sammon (Derby County), Walters (Stoke City), Cox (Nottingham Forest).
Doyle (Wolves), Ward (Wolves), O'Brien (West Ham), Pearce (Reading), Henderson (Ipswich Town), Meyler (Hull City)