Tunisia's world number 10 Ons Jabeur later said she was also missing Paris for the same reason.
"It is simply bad planning from the WTA. After the Olympics we have to fly straight to Canada for a mandatory event. That is too much pressure and affects the health," Sabalenka said.
"Unfortunately I have to sacrifice one tournament and at this stage of my career it is the Olympic Games.
"It is simply too much. Now we are playing on grass, on clay at the Olympics, on hard court in Canada. It is so crazy and damages our health," she said.
Sabalenka, who has won the past two Australian Open women's singles titles, made the announcement in Berlin on Monday, where she is drawn to play Daria Kasatkina in the last 16.
The 26-year-old Belarusian won the Australian Open in January, but was then knocked out by 17-year-old Russian Mirra Andreeva in the French Open quarter-finals this month.
"After consulting with my medical team we have decided that the quick change of surface and the body's adaptation required would put my knee at risk and jeopardise the rest of my season," Jabeur wrote on social media.
The three-times Grand Slam finalist previously competed at the 2012 and 2016 Olympics and COVID-delayed Tokyo Games in 2021.
"I have always loved representing my country in any competition," she wrote. "However, I must listen to my body."
The Olympic tournament is July 27-August 4, the Canadian event in the form of the Toronto Masters August 6-12.
Sabaleka said that her decision had nothing to do with the fact that Belarusians and Russians can only compete as neutrals and without their national symbols at the Olympics in connection with Russia's invasion of Ukraine.
with DPA
19°C