The 20-year-old midfielder suffered knee ligament damage in October and was initially expected to be sidelined for six months.
His rehabilitation is going well, but there is little chance of him returning to action any time soon.
Vuckic concedes as much and admits he is now focusing on getting a full summer of training under his belt before pushing for a place in Alan Pardew's pre-season plans.
He told Ekipa: "It is too soon for me to return to training as it would be risky for me to go into tackles with other players.
"But doctors say I am close to making a full recovery and believe that I could be back in the squad by May.
"But I don't believe I will be able to play again this season. It would be too risky and there wouldn't be any sense in coming back for the end of the season.
"The most important thing now is to return to training and then we will see when I can play again. I hope I will be fully fit at the beginning of next season."