"He underwent a minor operation on his eyes several days ago," the foundation said, adding that doctors had recommended that the 1990 Nobel Peace Prize laureate not attend the summit, due to take place in Paris on December 11-13.
Gorbachev, 77, who presided over sweeping reforms that led to the breakup of the Soviet Union, is respected in the West for his role in ending the Cold War.
Nobel Peace Prize winners gather for annual summits to discuss efforts to promote human rights and curb global violence.
In a letter to the summit, Gorbachev apologized for his absence and expressed confidence that the summit's decisions would contribute to international dialogue.
Gorbachev attended a book fair in Moscow in late November, presenting the first five volumes of a 22-volume collection of his works.
The collection includes official speeches given by Gorbachev at Communist Party congresses during the Soviet era and during his trips across Russia and abroad, as well as at closed-door meetings with leading foreign politicians. More than half of the material is being published for the first time.
