The Our Girl actress - who is married to presenter Mark Wright - was being touted as the number-one celebrity pick for bosses of the BBC show, but Michelle has snubbed the entertainment show, preferring to focus on acting roles for the time being.
Why doesn't Michelle want to do Strictly?
A source told The Sun newspaper: "Michelle loves Strictly and enjoyed supporting Mark when he competed in 2014 but the show is just not on her radar right now.
"There are so many more pressing things in the pipeline that she's more passionate about, like big dramas.
"She'll always be 'Strictly's number one fan, but as for competing, it's just not going to happen. Michelle wants to be known as an actor."
Rumours started last month that former Corrie star Michelle had been lined up for the new series of Strictly.
A TV insider told The Sun at the time: "Michelle ticks all the boxes. She's glamorous, hugely popular and loves the show too. Producers are desperate to try and sign her up.
"They know that getting her to agree would be a massive coup and are hoping she will do it."
The timing was also thought to have been ideal, as Michelle had already finished shooting her final scenes for the BBC drama series Our Girl.
The source added: "She's always enjoyed the show and was wanted when she was on Corrie. But it was always very tricky to get over the line because of the BBC and ITV rivalry."
Our Girl return?
Michelle, who is currently starring in Sky One comedy Brassic, also recently shut down rumours that she was set to take over from Holly Willoughby as a team captain on ITV's Celebrity Juice.
She said on The One Show recently: "I can officially say that's not true. Don't get me wrong, I'm a massive fan of the show. I love the show, I find it hilarious.
"But, at the minute, no, no, that's not true."
However, Michelle has hinted that she may return to Our Girl again one day.
Michelle explained to Digital Spy: "I can't say what's going to happen in the future but now, because it's been on screen and Georgie hasn't been killed, I can now say the door has been left open for Georgie to return.
"Great for me because I absolutely love the show and it's such a special show to be a part of.
"For me I'll never say never to going back, ever. I love playing Georgie Lane - it was such a challenging yet rewarding role."
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