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Lamar Odom's highly anticipated basketball return has come to a screeching halt -- the ex-NBA superstar has been kicked out of the BIG3 league ... and our sources tell us it's because he simply wasn't ready to play.

Ice Cube's organization announced the move on Wednesday ... saying LO -- as well as Baron Davis, Jermaine O'Neal and Bonzi Wells -- would be deactivated for the remainder of the 2019 season.

TMZ Sports has learned ... Odom was nervous about being embarrassed on the court because he wasn't prepared to compete with his fellow ex-NBA hoopers ... and there was little hope it would work out.

As the league stated in the news release ... the org wanted to "maximize competition," so it was an easy decision to part ways with the Lakers champ.

"As the premier professional 3-on-3 league in the world, we are always striving to improve the quality of both the live and broadcast experience for our fans as well as the level of competition," the statement read.

Odom had barely played for the Enemies team ... posting 2 points and 4 rebounds in the season.

It's been a tough road back to the hardwood for Odom following his 2015 drug overdose that left him in a coma ... and those around him said he was laser-focused on getting back in shape and competitive again.