He was due to arrive in London on Thursday, where he said he would cheer on his wife, Claire, who is returning to international competition in the women's 20km race after taking time off for the birth of their son.
"On the one hand, my wife and I excitingly welcomed our son, Harvey, to the world and we could not be happier," Tallent said.
"On the other I have been challenged ... with recurring injuries and now a hamstring complaint that will prevent me from being able to start.
"The decision to withdraw is never easy ... I am not done yet when it comes to contesting for gold medals. The Commonwealth Games on the Gold Coast, the 2018 IAAF World Race Walking Team Championships and, of course, Tokyo 2020 remain on my agenda."
(Reporting by Simon Jennings in Bengaluru, editing by Larry King)
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