The Football Association will however proceed with a bid for to stage group games and a quarter-final.
Istanbul announced the move after the Turkish city lost out in its bid for the Olympics in the same year.
The German football federation will put forward Munich as a candidate for group matches only following Istanbul's decision to bid for the final and the FA is now to hold discussions on their plans but is expected to follow suit.
Sources in the organisation say they have always been realistic about Istanbul being the favoured choice for UEFA if it lost out in the Olympics contest.
The tournament is being played in 13 cities around the continent and there here had been the possibility that Turkey would not bid in return for guaranteed UEFA support to host Euro 2024 across the whole country, but an announcement for 2020 has now been made.
The Turkish Football Federation said in a statement: "Turkish Football Federation has made an official application to UEFA to host semi-finals and final of Euro 2020 in Istanbul, Ataturk Olympic Stadium.
"The bid dossier will be given to UEFA in the end of April 2014."
Federation president Yildirim Demiroren signed the application form in Bucharest before Turkey's World Cup qualifier against Romania.
Budapest and Belgrade have also thrown their hats into the ring to be host cities.