Crystal Palace's joint administrator Brendan Guilfoyle has issued a statement confirming the player was told he could not play.
The form of Moses has been a talking point all season, with boss Neil Warnock tipping him for a move to the Barclays Premier League, and a move away from the Championship club now seems inevitable as they look to ease their financial trouble.
Guilfoyle: "One of the options for the administrators is to sell players during the transfer window.
"Independent football agents appointed by the administrators to assist with player sales have reported that there is a great deal of interest from clubs wanting to buy Victor Moses.
"I could not sleep last night worrying that Victor might be injured in the forthcoming match against Newcastle which could jeopardise the future of this long-established club.
"I therefore took the tough decision to instruct the manager that Victor Moses was not available for selection. The manager was very disappointed."
Neil Warnock: "I am disappointed because in all honesty, I don't think I have seen a better team than us over the season and I think we could have gone up, so I am bound to be disappointed at 61 that I have not got a chance of going up when I want to.
"I don't feel we ought to decimate the squad. Yes, if he [the administrator] has got problems, Victor and the odd one other, but if we are talking four or five, then I can't walk across the water just yet.
"It's difficult playing in the Championship with eight players. I would find it very difficult to put a team out with eight players."