Meghan Markle's return to acting might not be happening after all ... because a new report indicates "The Gentleman" ran scared from the star due to fan outrage.

Here's the deal ... reports began circulating this week that Meghan was being considered for a part in Guy Ritchie's hit series -- though the talks were in very early stages.

However, on Saturday, Tina Brown -- formerly the editor-in-chief at Vanity Fair and The New Yorker -- says the dream is already dead ... and it was a much more serious offer than initial reports indicated.

She wrote on her Substack, "I learned this morning that the casting of Meghan Markle in season 3 of Guy Ritchie’s Netflix series 'The Gentlemen' has been withdrawn. The backlash in the UK was so intense, it became untenable to go forward. This does not bode well for Meghan’s acting comeback in the UK.”

Worth noting ... even if the casting hadn't been withdrawn, Meghan wouldn't have appeared in the upcoming season of the show because it comes out next month. Her character was supposed to appear in season 3 ... if Netflix decides to renew the series.

As you know ... Meghan and Harry are temporarily moving to the UK with their two children -- Prince Archie and Princess Lilibet -- in a shocking relocation.

Harry's father -- King Charles -- was told of the development earlier this week ... and reports say he's excited to spend time with his son's family.

The reason for the move is still a mystery ... though, if it was connected to this reported offer, it makes you wonder if they'll still go through with the move.