The Arsenal player had looked to be a certainty for England boss Fabio Capello's World Cup 23 after playing in England's final two warm-up games against Japan and Mexico, but the Italian chose to exclude the 21-year-old in favour of Manchester City winger Shaun Wright-Phillips.
Walcott, whose season has been plagued by injuries and poor form, will now have to watch from the sidelines this summer as Capello's team look to win their first World Cup since Hurst fired the Three Lions to glory in 1966 with a hat-trick in the final.
That's where you need to be: Arsene Wenger will have to build Theo Walcott's self-belief after his World Cup exclusion
The 68-year-old believes Walcott will be back in an England shirt sooner rather than later though, especially if Arsenal boss Wenger manages to rebuild the confidence of the former Southampton forward following the decision.
'It doesn't surprise me that he wasn't included,' said Hurst. 'The reason he hasn't been included is because of his lack of consistency of performance.
'He has certainly not replicated the form he first showed when he was included in the England squad, mainly thanks to his injuries.
'Nevertheless, if he has a good season and he can replicate the form he started with last year then he can get back in the team. He is quite capable of that.
'Arsene Wenger will be very important to Theo's recovery. He is a great manager and a magnificent mentor to the young players at that club.'
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