The 18-year-old, who has yet to make his debut for the senior side, will compete with Valencia's David Villa and Fenerbahce's Daniel Guiza for a place when the European champions kick off their World Cup qualifying campaign against Bosnia and Armenia.
Bojan is also eligible to play for Serbia, and has been courted by their new coach Radomir Antic. Last week he said was flattered by the interest but determined to continue his international career with Spain.
Torres, who scored the winning goal for Spain in the Euro 2008 final against Germany in June, withdrew after damaging a hamstring in the Premier League match against Aston Villa on the weekend. He will be out for between two and three weeks.
Spain host Bosnia in Murcia on September 6 and Armenia in Albacete four days later.
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