Karmelo Anthony — the 17-year-old accused of killing a fellow teen at a track meet earlier this year — will not face the death penalty … something the alleged victim’s father doesn’t exactly seem happy about.

Anthony was formally indicted on one count of first-degree murder on Tuesday over his alleged role in an April 2 stabbing at a high school track meet … and a short time after the charge was announced, law enforcement sources explained to TMZ Sports the death penalty won’t be in play.

We’re told in addition to prosecutors simply not seeking it … at just 17 years old, Anthony is also too young to be the subject of the punishment.

Jeff Metcalf — the dad of Austin Metcalf, the boy who Anthony allegedly killed — told us he would have “100 percent” supported the death penalty if Karmelo had been 18 at the time of the incident … but he wouldn’t comment on if he’d be in favor of it no matter what Anthony’s age was.

“Doesn’t matter what I think,” he told us. “Nothing will bring my son back.”

He added, “It’s the law unfortunately. If it would have happened 6 weeks later, he would have been 18. Then it’s a different ball game. We have to play the cards we are dealt.”

Nonetheless, Jeff said he’s “pleased” the case is moving forward.