The 43-year-old actor currently stars as the latest Bond villain in Skyfall, opposite current 007 Daniel Craig.
In a recent interview with CinemaBlend, Bardem is quoted as saying that producers of the espionage franchise approached him to become the first Spanish Bond.
"Years ago, I was [offered the role]," he recalled. "I don't remember what movie it was for. I didn't feel that it was the time for me to do something like that.
"And also, I was doing something else, so I passed. This time, when I read it, I felt that it was very powerful material, and I wanted to join."
Photo gallery - 'Skyfall':
which is currently breaking international box office records, Bardem plays a formidable cyber-terrorist.
The No Country for Old Men actor insisted he does not regret his decision to pass on the role, adding: "I have passed on many things that I could easily regret, but I don't regret any of them, because that also gives room for something else to come that I'm proud of."
Skyfall is out now in the UK and opens in US cinemas on November 9.
Watch a trailer for Skyfall below: