The world's No. 1-ranked golfer said the knee discomfort he sometimes experiences has resurfaced and that he feels it's best he stays home and rehabs the issue.
"I am not pleased about this situation, as I was really looking forward to playing this week," he said.
Johnson, who turns 37 on June 22, also withdrew from the Texas Open in late March to focus on The Masters. He ultimately finished 5-over par to miss the cut in the latter tournament. Johnson then finished 13th at the RBC Heritage in mid-April and 48th at the Valspar Championship two weeks later.
He dominated Augusta in November, winning the 2020 Masters with a course-record score of 20-under. But Johnson has struggled since then, finishing 54th at the WGC-Workday Championship in February and 48th at The Players Championship in mid-March.