The FA confirmed the policy as the organisation began the process of notifying associations, clubs and players of what individuals were under consideration for selection for the Olympics.
"We have had discussions as we come now to notifying the long list of the players who could potentially be selected and it is important to make clear what we have agreed regarding England players who will be at Euro 2012," Britain's head coach Stuart Pearce said.
"We have agreed that any player who boards the plane to the European Championship in Poland and Ukraine will not be considered for selection to Team GB."
"It's a sensible football decision when you consider the demands on players, and it now leaves no room for doubt for players and their clubs about next summer and the two major tournaments."
The participation of a British team at the Olympics has been mired in controversy, with Scotland, Wales and Northern Ireland all opposed on the grounds it could threaten their independent status within FIFA.
England bars Euro 2012 players from Olympics
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