McVie left Fleetwood Mac following the highly successful 'The Dance' tour in 1998 and has largely shunned the music business, aside from the 2004 solo LP In the Meantime.
Fleetwood Mac will launch their latest reunion tour in 2013, but Nicks has stressed to Rolling Stone that McVie will not be involved at all.
"I would say there's no more a chance of [McVie returning] than an asteroid hitting the earth. She is done," Nicks explained to the publication.
The 'Rhiannon' singer continued: "You know when you look in somebody's face and you can just tell? She doesn't want to do it anymore. She doesn't want to fly. She doesn't want to come back to America. When she left, she left. She sold her house, her piano, her car.
"She went to England and she has never been back since 1998, so it's not really feasible, as much as we would all like to think that she'll just change her mind one day. I don't think it'll happen. We love her, so we had to let her go."
McVie has largely refrained from public appearances in recent years, but did attend a Fleetwood Mac concert in London in 2008.
Fleetwood Mac's Lindsey Buckingham expressed hopes this week that the band will tour Europe in addition to their 34-date US and Canadian trek.
Watch Fleetwood Mac perform 'Songbird' below: