The Norway star did return to action in a 1-1 draw against Chelsea at Stamford Bridge.
However, playing two international games and then returning to club action may have caused a relapse of his ankle injury.
"After discussions with the medical (staff) at the national team, we have unfortunately concluded that the situation is not good enough to play these matches," Odegaard is quoted telling the Norwegian FA.
"I've been through a long training period and when you haven't practiced football in the last nine weeks, it's natural not to be 100 percent yet.
"I need to listen to my body, complete this rehab process and get my foot back in good shape. The hope has always been to be able to play the national matches, and if I hadn't played the match (versus Chelsea) on Sunday, it would have been out of the question to participate anyway.
"It's a very bad feeling to lose these games, I love playing for Norway and with this team. But I have great faith in the boys and wish them the best of luck - there are still good opportunities to win the group."