Luck recently suffered a setback in his recovery from offseason shoulder surgery.
"I wish I was better and 100 percent this season, but that's not the case," Luck said. "I know I'll be better from this. I know I'll be a better quarterback, teammate, person, and player from this, and I'm excited for the future."
Luck was initially expected to just miss the first week of the season, but instead was shelved for the first quarter of the year. He returned to practice at the beginning of October, only to complain of pain in his throwing shoulder. He was shut down Oct. 18 as he sought remedies for his ailment.
He sought the advice of specialists in recent weeks and was ruled out from returning to practice.
General manager Chris Ballard said Monday on 1070 The Fan on that the cortisone shots Luck received for his shoulder soreness didn't work as intended.
"Andrew's exhausted every avenue to try to get ready and get back and play, and that was our hope, also," Ballard said.
Luck will instead miss the entire 2017 season. He last played Jan. 1, 2017, in Week 17 of the 2016 season.