He had vacated Varanasi seat, which he had won in 2009, for Prime Minister Narendra Modi in 2014.
It, however, remains to be seen if the former Union minister, who along with former prime minister Atal Bihari Vajpayee and Advani, was seen as BJP's face for more than two decades, will reconcile to the decision or not.
Joshi heads Parliament's Estimates Committee and some of its observations, including on jobs, the GDP and non-performing assets, embarrassed the government.
BJP leaders said the party has taken a "principled decision" that veterans should make the way for younger leaders.
The BJP has also not given tickets to likes of B C Khanduri, Kariya Munda, Kalraj Mishra, Bijoya Chakravarty - all many term MPs and over 80 years of age - besides Advani (91).
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