The Netherlands captain has not played since suffering a serious knee injury in the Merseyside derby against Everton in October last year.
Van Dijk’s rehabilitation has been stepped up in recent weeks, with videos shared by the centre-back on social media sparking hopes he could yet be fit to lead the Dutch side.
Reds boss Jurgen Klopp vowed not to hold the 29-year-old back, providing he could prove his fitness, while national team boss Frank de Boer said it would be a “bonus” were he available.
However, Van Dijk has now ruled himself out of the tournament, in order to concentrate on being fit for the start of the new club season.
“Things have been going well, I’ve not had a real setback or anything, I’ve just progressed nicely,” he told the Liverpool club website.
“In this latest stage for myself, I have come to a decision that I had to make: would I be involved in the Euros, yes or no? With everything that is going on, I feel physically it is the right decision that I’ve decided not to go to the Euros and to go into my last phase of rehab during the off-season.
“So, the full focus will be on pre-season with the club and that’s a realistic goal, so I am looking forward to that. Obviously I am very gutted to miss the Euros, to miss the European Championship and leading out my own country there, but things have been like they have and I have to accept it – we all have to accept it.
“I think the decision to not go is the right decision in the grand scheme of things. It’s tough, but I’m at peace with it.”