Tevez arrived in Shanghai from Boca Juniors amid much fanfare and a lucrative contract, reportedly worth £615,000 ($1m AUD) per week.
However, the 33-year-old has struggled to live up to the hype, even criticised and booed by his own fans after scoring just twice in 12 CSL appearances.
And Wu – a replacement for Gus Poyet, who resigned following Shenhua's defeat to Henan Jianye last week which left the club just eight points clear of the relegation zone after 23 games – took aim at the former Juventus, Manchester City and Manchester United forward.
"He will be informed of my tactical plans but I won't pick him right now. He's not ready physically. He's not fit to play," Wu said.
"He is overweight, along with [Fredy] Guarin. I have to take responsibility for the team and the players as well. If you are unable to do your utmost to play, there's no point in picking you.
"I have coached lots of big stars, and my players are never picked on reputation."
Shenhua are away to city rivals and second-placed Shanghai SIPG – who boast Oscar, Hulk and Andre-Villas Boas – on Saturday.