Franks' omission is the most surprising with the 108-cap Crusaders strongman a regular starter for the All Blacks, until this season. He had suffered a shoulder injury that kept him out of much of Super Rugby this year but returned to the national side for the Rugby Championship.
However, most observers still expected the double World Cup winner to be on the plane to Japan, but his name was not read out by All Blacks coach Steve Hansen, with Joe Moody, Nepo Laulala, Angus Ta'avao, Ofa Tuungafasi and Atu Moli the props chosen in his place.
Luke Jacobson was named in the squad, but Liam Squire was not picked, after having earlier turned down selection during the Rugby Championship. Hansen confirmed that Squire is available if required as an injury replacement, while Vaea Fifita, Jackson Hemopo and Shannon Frizell were amongst those also missing out.
Lock Brodie Retallick was included despite suffering a dislocated shoulder against South Africa last month, as was midfield back Ryan Crotty, who has been out of action for the last two months with a broken thumb. Hansen told reporters in Auckland today that he did not expect Retallick to play in the pool phase.
Rookie wingers George Bridge and Sevu Reece were also selected after strong performances in the 36-0 victory over Australia when Hansen dropped veteran Ben Smith and Rieko Ioane after some sub-par performances.
Both Smith, who is leaving for France after the tournament, and Ioane were named along with the versatile Jordie Barrett, who can play across the backline.
First five-eighth Richie Mo'unga, who injured his shoulder against the Wallabies, was given the all clear and is expected to resume his dual playmaking role with Beauden Barrett at the tournament. The pair are the only first fives named in the squad, although Barrett has played fullback under the dual playmaker system.
The Barretts are the first trio of brothers to be included in a New Zealand World Cup squad.
The All Blacks will play South Africa, Canada, Namibia and Italy in pool matches starting on September 21, before heading into the knockout rounds.
Hansen said this edition of the World Cup "looks like being the most fiercely-contested yet with a large number of teams all believing they can win".
"This will bring possibly more pressure and expectation on them than ever before and it will be interesting to see who can and who can't cope with it.
"We in the All Blacks have always felt that this is a team that represents not only itself and the individuals in it, but all New Zealanders. We thank you for your support in advance. We will do everything in our power to make you proud of us and New Zealand."
ALL BLACKS SQUAD
The 31-strong squad is as follows (with age, Super Rugby team, province and Test caps):
FORWARDS
Hookers
Dane Coles (32, Hurricanes / Wellington, 64)
Liam Coltman (29, Highlanders / Otago, 5)
Codie Taylor (28, Crusaders / Canterbury, 44)
Props
Nepo Laulala (27, Chiefs / Counties Manukau, 19)
Joe Moody (30, Crusaders /Canterbury, 40)
Atu Moli (24, Chiefs / Tasman, 2)
Angus Ta'avao (29, Chiefs / Taranaki, 7)
Ofa Tuungafasi (27, Blues / Auckland, 29)
Locks
Scott Barrett (25, Crusaders / Taranaki, 30)
Brodie Retallick (28, Chiefs / Hawke's Bay, 77)
Patrick Tuipulotu (26, Blues / Auckland, 24)
Samuel Whitelock (30, Crusaders / Canterbury, 111)
Loose forwards
Sam Cane (27, Chiefs / Bay of Plenty, 63)
Luke Jacobson (22, Chiefs / Waikato, 1)
Kieran Read (33, Crusaders / Counties Manukau, 121) - Captain
Ardie Savea (25, Hurricanes / Wellington, 38)
Matt Todd (31, Crusaders / Canterbury, 20)
BACKS
Halfbacks
TJ Perenara (27, Hurricanes / Wellington, 58)
Aaron Smith (30, Highlanders / Manawatu, 86)
Brad Weber (28, Chiefs / Hawke's Bay, 2)
First five-eighths
Beauden Barrett (28, Blues / Taranaki, 77)
Richie Mo'unga (25, Crusaders / Canterbury, 12)
Midfielders
Ryan Crotty (30, Crusaders / Canterbury, 44)
Jack Goodhue (24, Crusaders / Northland, 9)
Anton Lienert-Brown (24, Chiefs / Waikato, 37)
Sonny Bill Williams (33, Blues / Counties Manukau, 53)
Outside backs
Jordie Barrett (22, Hurricanes / Taranaki, 11)
George Bridge (24, Crusaders / Canterbury, 4)
Rieko Ioane (22, Blues / Auckland, 26)
Sevu Reece (22, Crusaders / Waikato, 2)
Ben Smith (33, Highlanders /Otago, 79)
- NZME and Reuters