Head coach Matt Nagy consequently announced Mitchell Trubisky as the Week 12 starter.
"We're excited that Mitch is ready and it's an opportunity for him," Nagy told reporters Friday.
Foles was hurt in Chicago's Week 10 loss to the Minnesota Vikings. The veteran was deemed day-to-day during the team's bye week as he didn't suffer a major injury despite being carted off the field.
The 31-year-old replaced an ineffective Trubisky in Week 3 but won just two games in seven starts since.
Trubisky was also on the shelf nursing a shoulder injury he suffered on a running play in Week 9. The 26-year-old was a full participant during Friday's practice.
The Bears currently sit second in the NFC North at 5-5. Week 12 will mark the first meeting of the season between the two rival clubs.