The Monaco frontman joined the Toffees during the January transfer window, and despite scoring within four minutes of his debut against Swansea City, he was only able to make one further substitute appearance due to a hamstring injury.
The 23-year-old had been expected to make the final cut, but with competition from Didier Drogba and Swansea City's Wilfried Bony, coach Sabri Lamouchi deemed him surplus to requirements.
Bony is one of four Premier League representatives in the squad, with Newcastle United's Cheikh Tiote joining Kolo and Yaya Toure on the plane to Brazil.
There are also places for former Chelsea forward Salomon Kalou and ex-Arsenal winger Gervinho alongside Drogba in an attacking squad.
The African nation lost their first warm-up fixture 2-1 to Bosnia-Herzegovina and now travel to Texas to take on El Salvador before facing Japan in their opening Group C match on June 15.
Goalkeepers: Boubacar Barry (Lokeren), Sylvain Gbohouo (Sewe Sport), Sayouba Mande (Stabaek)
Defenders: Serge Aurier (Toulouse), Jean-Daniel Akpa Akpro (Toulouse), Sol Bamba (Trabzonspor), Arthur Boka (Stuttgart), Constant Djakpa (Frankfort), Kolo Toure (Liverpool), Ousmane Viera (Caykur Rizespor), Didier Zokora (Trabzonspor)
Midfielders: Geoffrey Serey Die (Basel), Ismael Diomande (Saint Etienne), Max Gradel (Saint Etienne), Didier Ya Konan (Hanover), Cheik Tiote (Newcastle United), Yaya Toure (Manchester City)
Forwards: Mathis Bolly (Fortuna Dusseldorf), Wilfried Bony (Swansea), Didier Drogba (Galatasaray), Gervinho (Roma), Solomon Kalou (Lille), Giovanni Sio (Basel)