The Spaniard’s withdrawal from Rio comes as Michael Matthews won stage ten of the Tour in a sprint finish.
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The 33-year-old had to pull out of the Tour de France on Sunday after sustaining injuries in crashes on stages one and two and then developing a fever.
Contador has now been advised by medics to rest completely for two weeks and he will not compete in the Rio road race which takes place on August 6.
Scans showed muscle tears in the calf and thigh in his left leg “which prevented him from pedalling normally” during the Tour, his spokesman said on Tuesday.
“The prospect of the Games is practically over”, said Contador, who looks set to join Trek-Segafredo for 2017, although changes of team can not be announced until 1 August.
“Regarding the Olympics, it is practically impossible”, he said. “The question isn’t whether I am recovered or not, but rather if I could arrive in prime condition”.
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“At first glance, it looks like that will not be possible”.
