World number two Novak Djokovic has announced his withdrawal from the upcoming ATP Canadian Open tournament in Montreal, according to Tennis Canada on Monday.

The Serbian, a 24-time Grand Slam champion, has advanced to the third round of the Paris Olympics after defeating Spain's Rafael Nadal.

Despite having won 98 career ATP titles, the 37-year-old Djokovic will not be participating in the hardcourt event that serves as preparation for the US Open, which starts on August 26.

"Although we're disappointed that Novak won't be joining us for this year's tournament, we respect his decision and wish him success at the Olympics and throughout the rest of his season," said tournament director Valerie Tetreault.

Djokovic's withdrawal allows Roman Safiullin, a 26-year-old Russian ranked 66th globally, to enter the main draw.

Due to the Olympics, the Montreal tournament schedule has been adjusted from its usual Monday-Sunday format, with main draw matches beginning on Tuesday, August 6, and concluding on Monday, August 12.