The Danish filmmaker dismissed the idea of making a direct sequel to his and Gosling's 2011 cult hit, but suggested that the character could still have a future on the big screen.
"[A sequel] is never going to happen," Winding Refn told the Evening Standard. "But the character of the Driver might return in another film. We're playing with that idea. We'll see what happens."
James Sallis, author of the original book that inspired Drive, released a sequel novella earlier this year which picked up seven years after the events of its predecessor with The Driver relocated in Phoenix.
Sallis has insisted that a movie adaptation of the story is "in the pipeline".
Winding Refn and Gosling recently reunited for Bangkok-set crime thriller Only God Forgives, which will arrive in cinemas in early 2013.
The pair are also planning to remake '70s science fiction movie Logan's Run.
> Nicolas Winding Refn 'Drive' video interview
> 'Drive' Digital Spy's movie of 2011
Watch the trailer for Drive below: