Watson will defend a title next week at New Orleans and take part in the Players Championship two weeks after that, a hectic pace for the long-hitting American who won his first major title April 8 at Augusta National.
Watson and his wife adopted a baby boy last week and have had little time to adjust to parenthood much less the attention focused upon Watson after he beat South Africa's Louis Oosthuizen in a Masters sudden-death playoff.
"We certainly will miss seeing Bubba and we completely understand," said Wells Fargo Championship executive director Kym Hougham. "He has been a great ambassador for our event and I know he and the family will join us next year."
The Wells Fargo will be staged May 3-6 and will include 14-time major champion Tiger Woods, reigning US Open champion Rory McIlroy, four-time major winner Phil Mickelson and World No. 3 Lee Westwood.