In addition to his 24 Grand Slam victories, the 37-year-old is the reigning champion in Paris and has won a record 40 Masters titles.
With several players still eligible to pass him, Djokovic is currently sixth in the race for the eight-man field event, but he still has a chance to advance to the season-ending ATP Finals in Turin next month.
Djokovic wrote, “Unfortunately, I won’t be playing the Paris Masters this year,” on social media.
“I’ve won seven titles and had many wonderful experiences. I hope to see you again next year. I apologize to everyone who was expecting me there.
With wins by Spain’s Carlos Alcaraz and Italy’s Jannik Sinner in the four majors, Djokovic will finish the season without a Grand Slam championship for the first time since 2017.
But in August, Djokovic did win his first gold medal at the Olympics in Paris.