France coach Didier Deschamps said Payet, who was in tears as he limped out of Wednesday night's game, would likely have made the squad had it not been for his injury, which made his selection too big a gamble.
In-form attacking midfielder Dimitri Payet was ruled out after sustaining a muscle injury in Marseille's 3-0 defeat by Atletico Madrid in last week's Europa League final.
His team-mate Florian Thauvin, who has excelled at Marseille after an unhappy spell at Newcastle, is in the squad.
Elsewhere, Manchester City left-back Benjamin Mendy was called up despite having hardly featured for Pep Guardiola's side since returning from a serious knee injury. Le Blues start their World Cup campaign against Australia on June 16, with Peru and Denmark the other teams in their group.
Griezmann scored a brace in the Europa League final, and was unsurprisingly chosen for his favorable performance alongside with his striking partner Olivier Giroud.
"I dreamed of participating in this World Cup like all the children who will watch this World Cup", said the 19-year-old Mbappe.More news: Messi: It Would Be Terrible If Neymar Joined Real!
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The 19-year-old Kylian Mbappe, whose stunning performance over the past two seasons has drawn much attention from the world, is set to welcome his World Cup debut in Russian Federation, while Arsenal forward Alexandre Lacazette had to settle in the standby list in case of injury of 23 chosen members.
Real Madrid striker Karim Benzema's global exile goes on - he has not played for France since October 2015 after being accused of involvement in a blackmail affair involving a sextape.
Another player to miss out was Arsenal defender Laurent Koscielny, who ruptured an Achilles tendon playing against Atletico in the Europa League semi-finals. "They were good against Germany, but the whole team were".
"I have had these two players in several situations, as starters and substitutes".
Australia's most hard opponent at the upcoming World Cup, France, has named a provisional 23-man squad with several big names missing, but plenty of quality to challenge the Socceroos.
Before heading to Russian Federation, they will play three home friendlies, starting against the Republic of Ireland at the Stade de France on May 28.