The San Antonio Spurs guard, who recently signed a $39 million (£25 million) three-year contract extension, said he wanted to be with his wife who is expecting twins in May and concentrate on the 2012 London Olympic Games.

"My two Olympic experiences were the best thing that has happened to me as a sportsman, including [three] NBA titles and I have no doubt in my mind I want to experience it again," the 32-year-old said.

Besides Ginobili helping Argentina win the basketball gold medal at the Athens Games in 2004, he was also a member of the the side that won the silver medals at the 2002 World Championships.

He said: "Everybody knows I love playing for the national team.

"I enjoyed every tournament I played, but this year was kind of different.

"It's been two years since I came through a good preseason - one before because of the surgery, last year because of the fracture.

"I want to play the Olympics, so I decided to pass on this one."

But Ginobili's absence is a serious blow for Argentina, who have been drawn in the toughest group for the tournament which is due to open on August 28 and finish on September 12.

They are due to the current Olympic gold medallists the United States, world champions Spain and world silver medallists Greece.