Beckham has played 115 internationals - the most for an England outfield player and only bettered by now-retired goalkeeper Peter Shilton.
The 35-year-old Beckham missed out on playing at a fourth World Cup after tearing an Achilles' tendon in March while on loan to AC Milan from the Los Angeles Galaxy.
Capello told British broadcaster ITV that the former captain is "probably a bit too old" to play for England again.
The Italian coach added: "Thank you, David."