The Blues striker had been named in coach Stuart Pearce's provisional 30-man squad for the tournament in Holland but has failed to make the final 23-man squad.
The tounament begins on June 10th with England opening their campaign against Czech Republic the following day.
England U21 squad: Alnwick (Tottenham), Carson (Liverpool), Hart (Man City); Baines (Wigan), Cahill (Aston Villa), Ferdinand (West Ham), Hoyte (Arsenal), Onuoha (Man City), Rosenior (Fulham), Taylor (Newcastle), Whittingham (Cardiff); Bentley (Blackburn), Huddlestone (Tottenham), Milner (Newcastle), Noble (West Ham), Reo-Coker (West Ham), Richardson (Man Utd), Routledge (Tottenham); Derbyshire (Blackburn), Lita (Reading), Nugent (Preston), Vaughan (Everton), Young (Aston Villa).