Rodwell was forced off at half time of the Three Lions' Euro 2013 qualifier against Serbia on Friday with a hamstring problem.
Pearce told The Sun that he will not take a gamble on the former Everton midfielder's fitness in the decisive second leg in midweek.
He said: "His hamstring tightened up, we will see how it goes before we make any judgment.
"I didn't want to take any chance for club or country. We will see if it settles down and if it's not right, he will not travel."
The young Lions can ensure qualification for next year's European finals in Israel if they avoid defeat in the return leg on Tuesday.