The 29-year-old suffered the injury during QPR's victory over Derby County in the Championship play-final on Saturday, and was substituted after 33 minutes at Wembley.
Kranjcar has been an integral part of his national team in recent years and was preparing for his second World Cup appearance.
"Croatian midfielder Niko Kranjcar will miss the World Cup due to hamstring injury," the body posted on their official Twitter account.
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