The celebrity chef, 46, was named as the favourite to replace Matt LeBlanc after he quit in May.
James, who found fame working on BBC cooking show Saturday Kitchen Live, left the Beeb after a decade and moved to ITV in 2017.
But when asked if he could be tempted back to the broadcaster, he remained coy.
Speaking to OK! Magazine, James said: “We’ve had no phone call. If people wanted me to do it then fine, if they didn’t then fine.
“I’m enjoying my life as it is. I love cars as a hobby – whether or not I could do it as a job is another thing.
“I’m 46 years old; do I need to chase anything anymore?
“I’m more content than I’ve ever been, that’s a good place to be.”
Earlier this year, James joked he’d put a bet on himself replacing Matt on the show.
He joked: “I went past Paddy Power the other day and I’m six to one on. I’ve got to put a bet on myself, to be honest.
“In fact, I may have even put £100 on myself. But I’ve got no idea about whether I’ll get it.”
Also in the running for the job were Jodie Kidd and Guy Martin.
Read the full story in this week's OK! Magazine – out today.
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