The 40-year-old is on the brink of helping the Rossoneri win their first Serie A title since 2011 with just a point required in their final match of the campaign to guarantee the Scudetto.
The Nations League gets underway two weeks after the league season ends and sources have told Football Italia that, while Ibrahimovic was keen to contribute, he has turned the call up down following a season which has been blighted by fitness issues.
However, the source stressed the decision has no impact on the forward’s future with his country and, as things stand, he will be available for selection again in the future.
Ibrahimovic has 121 caps for Sweden and scored 62 goals. He represented his country at the 2002 and 2006 World Cups as well as the 2004, 2008, 2012 and 2016 Euros.
Sweden are in Nations League Group B and start their campaign with a visit to Slovenia on June 2. Norway and Serbia are also in their group.