The diminutive winger was called into Cesare Prandelli's provisional 30-man squad, but will play no part in Brazil, after failing to impress the former Fiorentina boss.
Despite being cut, Giaccherini has no ill feeling towards his international boss and hopes to come back in fine form next term and work his way back into contention.
"I was getting called-up into the national team until March," Giaccherini is quoted as saying by Football Italia.
"It's normal that I expected to be in Prandelli's 30, but the boss made his assessments, and I always thank him for what he has done for me
"I'm a bit disappointed because everyone wants to play in the World Cup, but even though I won't be on the pitch I will cheers for Italy, and always support the Azzurri.
"I do hope to get back into the national team. For me it's an honour."