"Unfortunately my shoulder injury has not healed so I have to withdraw. It's not good enough to compete. I had to make this choice," she said.
Russian number two Zvonareva, however, could not yet assess her chances of playing in the Olympic Games.
"I have a doctor's appointement later today. I can't comment at the moment (on the Olympics) as I have not yet seen a specialist," she added.
Zvonareva, who has been struggling with shoulder problems for the past year, also had to withdraw from the Rome tournament earlier this month.