Ronaldo has not recovered from an ankle injury and will not play in the game in Lisbon on Saturday and in Zenica four days later.
"After a clinical evaluation, it was concluded that the player does not meet the physical conditions to join the national squad training for the (Bosnia playoff) matches," the FPF said.
Real Madrid's world record signing suffered the injury in late September, which was aggravated in Portugal's 3-0 win over Hungary 10 days later and he has not played since.
Real had said earlier on Tuesday that Ronaldo would travel to Portugal to be examined by national team doctors, after complaining about coach Carlos Queiroz's decision to call him up.
The club said on last Friday that Ronaldo needed two more weeks of treatment. Director general Jorge Valdano had said playing him now would be a serious mistake.
Queiroz denied there was a row with Real over whether the winger should play. "The steps are simple - there is a call up, an evaluation, a decision, and then life goes on," Queiroz said.
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