The independent label was one of the biggest music success stories of the '90s, as was recently depicted in documentary Upside Down: The Creation Records Story.
The label released seminal records from bands such as Oasis, My Bloody Valentine, Primal Scream and the Super Furry Animals in the 25 years it was operational.
Creation was dissolved in 1999, but now looks set for a comeback as McGee, who has been described as an "inspiring nutjob", has announced plans to return to the music business.
In a statement to Louder Than War, the former Creation boss said: "Since spending the summer helping curate Tokyo Rocks for next year it's made me realise I do still love it! It was when I was flying back from Japan with the Primals that started me loving it again.
"I have to finish the edit to my film Kubricks and deliver the book I have signed up for but to be honest I am now seriously thinking about restarting Creation, or maybe call it something else if I can find the right people at a label to work with.
"Music needs a kick in the balls, and I have got the music buzz back again after working on Tokyo Rocks."
Listen to 'Sometimes' by My Bloody Valentine below: