The 23-year-old attacking midfielder has been in brilliant form for Harry Redknapp's side of late, but has not been included in the squad for the tournament, which begins on January 19.
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The news about Taarabt is welcome for Redknapp, who will need his best players available if QPR are to avoid relegation following a disastrous first half of the season as they languish in 19th place on 10 points.
Redknapp was keen on the midfield talisman to stay in England and fight for his side's Premier League survival - although the player had earlier said he "could not refuse" a call-up should he be picked.
Other Premier League players who have been called up are Aston Villa midfielder Karim El Ahmadi and Liverpool winger Oussama Assaidi.
The tournament takes place from January 19 to February 10, in which time QPR face West Ham, Manchester City, Norwich and Swansea.
Arsenal, meanwhile face Chelsea, West Ham, Liverpool, Stoke and Sunderland.
Full Morocco squad:
Askri, Lamyaghri. Znaiti; Belahder, Achchakir, Bergdich, El Kaoutari, Beatia, El Adoua, Kantari; Hermach, El Ahmadi, Belhanda, Namli, Chafnu, Belgazouani, Hafidi; Assaidi, Amrabat, Hamdallah, Barrada, El Arabi, El Hamdaoui, Kaddioui.