Faldo is missing the championship because of the recent birth of his daughter. His consecutive-major streak is thus stopped at 65.
'Having taken part in 65 consecutive majors, this was obviously a tough decision to make, bringing with it mixed emotions,' Faldo said in a statement. 'This is an incredibly special time in my life becoming a dad again at 46, and I promised (wife) Valerie that I would be around to support her and our new daughter.'
He also has three previous children from previous marriages.
Faldo, who has won three British Opens and three Masters, started his majors streak with the 1987 British Open. The longest streak for consecutive majors is held by Jack Nicklaus at 146.
Davis Love III now has the longest current streak, 53.