Even though the veteran left-hander has got support from Brian Lara, who believes his former teammate deserves a farewell series, Holding has taken the selector's side and feels that the 40-year-old is way past his prime.
"I don't believe that cricketers should just get a series for getting a series sake. I don't think Shivnarine Chanderpaul has proven in recent times that he is still a good enough player to be playing for West Indies," Holding told ESPNcricinfo.
"I saw him play against South Africa recently and he certainly did not look like the Shivnarine Chanderpaul that I was accustomed to seeing. He was a little bit slow with his reactions to the fast bowlers and we know what Australia are going to be bringing," he added.
The selectors, led by two-time World Cup-winning captain Lloyd, left out Chanderpaul from the 12-member squad for the first Test against Australia after the batsman averaged a mere 16 in his last 11 innings.
"Chanderpaul has to make way for someone younger. The person that comes in obviously is not going to fill Chanderpaul's shoes immediately. He has done so much good work for West Indies. But it is time for someone younger than him who can grow into those shoes," said Holding.
The snub effectively means the end of Chanderpaul's illustrious career, in which the talented cricketer has scored 11,867 runs at an average of 51.37 in 164 Tests.