American Adam Johnson, 29, who played for the Nottingham Panthers, suffered the fatal injury during a match against Sheffield Steelers.
"Following a thorough police investigation and a comprehensive review of all the evidence ... we have concluded that there is not a realistic prospect of conviction for any criminal offence and so there will not be a prosecution," the Crown Prosecution Service said in a statement.
It did not name the player whose skate cut Johnson.
Johnson, who had previously played in National Hockey League (NHL), as well as in Germany and Sweden, died in hospital after the incident.
His death sent shockwaves through the sport internationally, prompting a review of safety measures.
In December 2023, the International Ice Hockey Federation (IIHF) made the use of neck laceration guards mandatory in all its competitions following recommendations from its medical committee.