The Spain international suffered a thigh injury in training earlier in the week and manager Jose Mourinho has confirmed he will miss the Group E fixture.
Asked whether Torres would feature against the Bundesliga outfit, Mourinho stated on Tuesday: "No, he is out.
"(Ryan) Bertrand is injured, just today in training, so I cannot say what... but he's out of selection.
"Fernando has a muscular injury. We don't know the dimension but we await the scans tomorrow, but tomorrow out and out for the weekend too. After that comes an international break. Let's see if he can recover after that."
Torres' injury will also keep him out of the Premier League clash with West Brom on Saturday, and Mourinho has called on Demba Ba and Samuel Eto'o to make the most of any opportunities they get as a result.
"They (Ba and Eto'o) want to play and they are waiting for opportunities to play," he said.
"So when they have that chance and they know they are going to have it in this game and the next game at West Brom, I think it has to be a good motivation for them.
"Hopefully, they can express on the pitch the way they work during the week."
Mourinho claims to be unsure of the style Schalke will adopt, but noted the impressive form of Jens Keller's men on the road.
Schalke are unbeaten in seven away matches in all competitions, winning six, and currently sit second behind Chelsea in Group E on goal difference alone.
"Their record away is very good, not just in the Bundesliga but in European competition. This means they feel much more comfortable to play away than at home," said Mourinho.
"They are a very physical team, which is not our case. I don't know what they want from the group, if they are going to try everything to finish first or if they are trying to finish second and just progress. I have to prepare my team for both situations.
"I don't know if they come here to win the game clearly or try to get a point."
