The All-American game features the top 24 players from around the country selected by a voting committee based on their athletic and academic success.

Superstars from Magic Johnson to LeBron James to Kevin Durant to Melo's older brother, Lonzo, have participated in the game -- being selected to the team is one of the highest honors a high school player can have.

Of course, Melo announced his return to prep hoops earlier this week by enrolling in elite Spire Academy private school in Geneva, Ohio ... bringing him back to amateur status.

But, a rep for the organization's selection committee tells TMZ Sports LaMelo will NOT be in consideration to play in the game at the end of the season ... citing his past professional status as a means for disqualification.

"LaMelo Ball is a Professional Basketball player and has played professionally in Lithuania resulting in him being ineligible for the McDonald’s All-American Game," the rep tells us.

There are reports Melo didn't receive a cent of his salary while playing for BC Vytautas, making him clear to regain his amateur status.

But, reps for the All-American Game say they're not convinced -- yet -- however, they're willing to reconsider Melo's status if he can prove without a doubt he wasn't paid.

We also reached out to the organization behind the Naismith Prep Player of the Year award -- another huge honor for high school athletes -- and they told us Melo is NOT disqualified from consideration.

"As long as he maintains his amateur status, plays a full high school season and is in good standing with his team all season long, he’ll be considered just like any other HS candidate."

But, Melo and the rest of the Ball family aren't about accolades anyway -- for them, the only thing that matters is getting PAID in the NBA.