Franks was named in New Zealand’s squad to face the Wallabies in Dunedin but the 29-year-old has succumbed to injury.
Nepo Laulala will start against the Wallabies, while Jeffrey Toomaga-Allen is Franks’ replacement for the trans-Tasman Rugby Championship encounter.
“We’ve just decided to make sure that we’ve still got a rugby player in the future that we will put him aside and take a look at how we are going to treat it,” All Blacks head coach Steve Hansen said on Thursday.
World champions New Zealand – who humbled Australia 54-34 in Sydney last week – have held the Bledisloe Cup trophy since 2003.
Watch the Heineken Champions Cup Final live on RugbyPass throughout Asia and Australia.