The classical biophysical Morris-Lecar model of neuronal excitability predicts that upon stimulation of the neuron with a sufficiently large constant depolarizing current there exists a finite interval of the current values where periodic spike generation occurs. Above the upper boundary of this interval, there is four-stage damping of the spike amplitude: 1) minor primary damping, which reflects a typical transient to stationary dynamic state, 2) plateau of nearly undamped periodic oscillations, 3) strong damping, and 4) reaching a constant asymptotic value of the neuron potential. We have shown that in the vicinity of the asymptote the Morris-Lecar equations can be reduced to the standard equation for exponentially damped harmonic oscillations. Importantly, all coefficients of this equation can be explicitly expressed through parameters of the original Morris-Lecar model, enabling direct comparison of the numerical and analytical solutions for the neuron potential dynamics at later stages of the spike amplitude damping.