And a question mark remains over captain James Hopes as he sweats on the imminent birth of his first child.
McDermott made an 11th-hour bid to overcome a back complaint and at one stage on Tuesday the Bulls released a statement claiming he had been declared fit.
However, barely an hour later Queensland's medical staff bit the bullet and made the difficult decision to cut McDermott after deeming he was too big a risk for the Shield final.
"Alister did well yesterday and was fairly hopeful this morning, as we were, but after his second bowl today, he was still feeling some affects and was upfront with us about that," Bulls chairman of selectors Trevor Hohns said.
"It was a very hard call to make, but a five-day final is not the game to go into under even the slightest injury cloud.
"Alister was understandably disappointed after doing everything he could to be available, but we believe it's the right decision."
Ronan McDonald retains his spot in the 12-man squad that beat Western Australia outright on Sunday to qualify for the final.
Fellow quick Cameron Gannon, who missed the WA game due to illness, has also been included in the squad.
McDermott, who took six wickets in the first innings of last year's final won by Queensland, suffered the minor back strain the previous week in the loss to the Tigers at the Gabba.
Meanwhile, Hopes was named in the squad but will remain with his wife Maria and not travel with the team on Wednesday to Hobart.
However, the Bulls are still keeping their fingers crossed Hopes will play in the Shield decider.
Queensland squad: James Hopes (capt), Joe Burns, Peter Forrest, Cameron Gannon, Ryan Harris, Chris Hartley, Nathan Hauritz, Ronan McDonald, Greg Moller, Michael Neser, Luke Pomersbach, Nathan Reardon. (12th man to be named).