The Sunderland manager also discussed Aaron Cresswell's omission.
Noble, who's made more successful passes than any English midfielder in this season's Premier League, was a surprise omission from Roy Hodgson's squad announcement on Thursday.
Speaking on talkSPORT's Alan Brazil Sports Breakfast show on Friday, Allardyce said: "Mark Noble particularly (deserved to be in the England squad).
"Obviously, Roy’s been watching these players for a long time and in the end it’s his decision - he’s done a fantastic job.
"He’s got some fantastic young players. But Mark I feel particularly sorry for on the basis that he was competing against probably (Steven) Gerrard and (Frank) Lampard and now younger players are breaking into that England side and he’s the man in the middle, who seems to have been left out or missed out."
Allardyce managed Noble in four of the midfielder's 12 seasons at Upton Park, winning promotion via the Championship play-offs in May 2012.
And the Sunderland boss feels it's a shame the 28-year-old's years of dedication to the Hammers have not earned him international recognition beyond the 20 Under-21 caps he accrued between 2007 and 2009.
"He’s a dying breed, one man club from a kid to a man and a very good captain as well now. It’s a shame he hasn’t quite clinched that cap," Allardyce added, before commenting on the progress of Noble's clubmate Aaron Cresswell, whom he signed from Ipswich Town two summer ago.
"For me Cresswell has done an outstanding job in terms of his quality and consistency."
Uncapped Dannys, Drinkwater and Rose, of Leicester City and Tottenham Hotspur respectively, were called up in place of Noble and Cresswell, while Hammers' winger Michail Antonio was also overlooked.
The trio have impressed in recent months with Allardyce replacement Slaven Bilic steering the club to within two points of a Champions League place.