Robinson damaged the anterior cruciate ligament in his right knee in training in July but had hoped the joint would have healed sufficiently for him to take part in the tournament which gets under way next month in New Zealand.
But the 26-year-old admits he is not fit enough for the rigours of a World Cup with Wallabies coach Robbie Deans naming a 30-man squad on Thursday.
"I think after Tuesday when I ran around and couldn't finish the run, it gave me time to assess where I was at," Robinson told the Sydney Morning Herald.
"I came to the realisation that (the World Cup) is a dream that is not going to come true."
Robinson was quick to shift his attention to playing in the next world Cup, to be staged in England in four years' time.
"In the next four years I'll be 30, 31, so the long-term goal is to make it for the next World Cup," he added.
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
The All Blacks Performance t-shirt is black with hints of blue from the training jersey. Very Cool.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.