The Arsenal star returned to first-team duties earlier on Sunday after a back problem and marked the occasion with a goal in a six-goal romp against Blackburn.
Wenger claimed he would have no problem if Walcott was then called into Capello's squad for the World Cup qualifiers against the Ukraine next Saturday and Belarus at Wembley the following Wednesday.
However, Capello has adopted a cautious approach and decided against drafting the 20-year-old into his squad for the first time this season, even though England have already booked their place at next summer's finals in South Africa.
In fact, despite predictions of mass experimentation, Capello has not made many changes at all.
The absences of Jermain Defoe and Ben Foster have been put down to injury, a hand in the case of the Tottenham man, with Manchester United's goalkeeper ruled out with an unspecified problem.
It leaves Ashley Young as the only player to miss out without an obvious excuse, his despair in contrast to the ecstasy of Gabriel Agbonlahor, who is recalled along with experienced duo David James and Rio Ferdinand, who have both had their injury problems in recent times.
James has missed five successive internationals after deciding to undergo shoulder surgery in the summer.
Since then, his career has been thrown into turmoil by the saga that has unfolded at crisis club Portsmouth.
Meanwhile 30-year-old Ferdinand has been hindered by a succession of calf, thigh and groin injuries over the past nine months, the latest coming during the friendly draw with Holland in August.
That was one of only two appearances for the Manchester United star in England's past nine internationals - the other coming against the Ukraine at Wembley in April.
The introduction of Agbonlahor is the most noteworthy inclusion though.
With Defoe ruled out of Capello's plans on Friday, before he turned out as a substitute in Tottenham's draw at Bolton 24 hours later, and the timing of Michael Owen's latest injury ensuring he could not be considered, the Aston Villa striker has been catapulted back into the reckoning.
A star at Under-21 level under Stuart Pearce - a key figure in Capello's coaching team - Agbonlahor started the friendlies in Germany and Spain last season, but seemed to have dropped out of the reckoning since, especially as Defoe has been in such fine form.
However, Capello has stressed more than once nothing is certain as far as his squad for South Africa is concerned and Agbonlahor will hope for a chance to catch the eye at some point over the next 10 days, although he must first get through Monday night's encounter between Villa and City.
Capello will be at Villa Park, no doubt with his fingers crossed, given seven members of his 24-man squad will be involved before they meet up on Tuesday.
England: Robinson (Blackburn), Green (West Ham), James (Portsmouth); A Cole (Chelsea), Terry (Chelsea), Johnson (Liverpool), Bridge (Manchester City), Lescott (Manchester City), Brown (Manchester United), Ferdinand (Manchester United), Upson (West Ham); Milner (Aston Villa), Lampard (Chelsea), Beckham (Los Angeles Galaxy), Gerrard (Liverpool), Barry (Manchester City), Wright-Phillips (Manchester City), Carrick (Manchester United), Lennon (Tottenham); Agbonlahor (Aston Villa), Heskey (Aston Villa), Crouch (Tottenham), C Cole (West Ham), Rooney (Manchester United).