Neither 26-year-old Nasri, who has won 41 caps, nor Monaco captain Eric Abidal, capped 67 times, feature in the squad or on the seven-man standby list.
"He is a player of great quality, but Nasri's performances for France have not been of the standard of those with his club Manchester City," said Deschamps, after revealing his squad live on French television channel TF1's evening news programme.
"He is an important player and a first-pick for City and that is not the case for France.
"And when he is a substitute he is not happy, and that is felt by the squad as a whole. That is why he is not on the list."
Nasri responded to the news of his exclusion by tweeting, "Thanks for all your messages of support. What doesn't kill you, makes you stronger.”
Nasri, who was also left out of Raymond Domenech's squad for the 2010 World Cup, last played for France in the 2-0 defeat to Ukraine in the first leg of last November's World Cup qualifying play-off.
Coach prefers younger players
Abidal also played in the qualifying play-off before losing his place, and Deschamps admitted that he preferred to take a younger player than the former Barcelona man, who is now 34.
There are eight players aged under 25 in the squad, including Real Sociedad winger Antoine Griezmann, who made his international debut against the Netherlands in March, and 21-year-old duo Raphael Varane of Real Madrid and Paul Pogba of Juventus.
Bastia's 34-year-old goalkeeper Mickael Landreau, who will retire from football after the finals, is the senior figure in the squad, while Paris Saint-Germain left-back Lucas Digne, 20, was preferred to Gael Clichy of Manchester City.
Newcastle United forward Loic Remy, who played under Deschamps at Marseille, was selected rather than Lyon's Alexandre Lacazette, scorer of 15 goals in Ligue 1 this season.
France have been drawn in Group E with Switzerland, Ecuador and Honduras.
As well as playing Norway, they will play friendlies against Paraguay in Nice on June 1 and Jamaica at Lille's Stade Pierre-Mauroy on June 8 before flying to Brazil.
Their opening World Cup game will be against Honduras in Porto Alegre on June 15.
Ailing Falcao included in Colombia squad
Colombia coach Jose Pekerman maintained hopes that star striker Radamel Falcao could make the World Cup finals by naming him in his 30-man provisional squad late Tuesday.
Falcao is recovering from surgery on ruptured cruciate ligaments and has not played since late January.
Despite major doubts about his fitness, the 28-year-old Monaco striker has repeatedly said he still hopes to be in Brazil.
Colombia have been drawn in Group C at the World Cup with Greece, the Ivory Coast and Japan.
They will face Greece in their opening game in Belo Horizonte on June 14.
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