Play video content Breaking News 7/15/19 TMZSports.com

UFC stud Jorge Masvidal will NOT get a crack at Conor McGregor, despite his record-breaking victory over Ben Askren ... so says Dana White.

"Hell no," White told us ... explaining that Masvidal is a welterweight fighter (170 lbs) and he's simply too big for take on the smaller McGregor, who fights at lightweight (154 lbs).

"There's plenty of fights for him in his weight division without Conor," White said ... "He's too big for Conor. [McGregor] doesn't belong in 170."

"[Conor] has the balls to fight at 170, but he doesn't belong there."

So, when WILL Conor return to the Octagon and who will he fight?

White says he expects to see Conor back in action either at the end of 2019 or early 2020 -- but he won't commit to an opponent until Khabib Nurmagomedov fights Dustin Poirier in September.

McGregor will NOT automatically get the winner of that fight -- but White says it will be easier to matchmake after that fight goes down.

"A lot of things will shake out and we'll see who's next."

Conor hasn't fought since UFC 229 back in October 2018 when he lost to Khabib -- and he's currently nursing an injured left hand he busted up during a recent training session.