Senderos, 31, is no longer a shoe-in as a starter for Switzerland, now plying his trade for Grasshopper Zurich after many seasons spent with Arsenal and AC Milan.
Along with Senderos, other players to miss out on Petkovic's final cut included Udinese defender Silvan Widmer, Basel midfielder Luca Zuffi and Young Boys goalkeeper Yvon Mvogo.
"It was really difficult for me to reduce the list to 23 players," said Petkovic.
"All trained very well in the first week of the training camp in Lugano. It was a difficult decision but that's part of my job."
There was also still no place for former captain Gokhan Inler, who was left out of the provisional 28-man Euro 2016 squad, the latest disappointment for the Leicester City midfielder who saw limited minutes in the club's fairytale run to the English Premier League title.
Switzerland get their campaign under way against Albania in Lens on June 11th, before Group A matches against Romania and hosts France.
The Swiss team, who went down 2-1 to Belgium on Saturday, play Moldova on Friday before travelling to their base in France for the Euros, in the southern Mediterranean city of Montpellier.
Switzerland squad for Euro 2016:
Goalkeepers: Yann Sommer (Borussia Moenchengladbach/GER), Roman Burki (Borussia Dortmund/GER), Marwin Hitz (Augsburg/GER)
Defenders: Johan Djourou (Hamburg/GER), Nico Elvedi (Borussia Moenchengladbach/GER), Michael Lang (Basel), Stephan Lichtsteiner
(Juventus/ITA), Francois Moubandje (Toulouse/FRA), Ricardo Rodriguez (Wolfsburg/GER), Fabian Schar (Hoffenheim/GER), Steve von Bergen (Young Boys Bern)
Midfielders: Valon Behrami (Watford/ENG), Blerim Dzemaili (Genoa/ITA), Gelson Fernandes (Rennes/FRA), Fabian Frei (Mainz/GER), Granit Xhaka (Arsenal/ENG), Denis Zakaria (Young Boys Bern)
Strikers: Eren Derdiyok (Kasimpasa Istanbul/TUR), Breel Embolo (Basel), Admir Mehmedi (Bayer Leverkusen/GER), Xherdan Shaqiri (Stoke City/ENG), Haris Seferovic (Eintracht Frankfurt/GER), Shani Tarashaj (Everton/ENG)