The 50-year-old actor played underdog hero Daniel LaRusso in the original Karate Kid series, which was rebooted in 2010 for a feature film starring Jaden Smith and Jackie Chan.
Macchio has now downplayed rumours that he wants to return to the Karate Kid franchise for a new movie.
"No, I don't have a desire to [return to The Karate Kid]," the star admitted to Parade.
The former Dancing with the Stars stars contestant added: "It seems like a different franchise now."
Macchio announced in June that he is to pen a tell-all memoir, in which he will reveal stories about filming The Karate Kid, The Outsiders and My Cousin Vinny.
> DWTS Ralph Macchio: 'I always gave 100%'
Watch a trailer for the original Karate Kid below: