Following his 2002 Spider-Man, Raimi made two sequels and was due to produce a fourth movie - with Anne Hathaway in line for the role of Black Cat - but felt unable to develop a quality film on the studio's schedule.
"It really was the most amicable and undramatic of breakups," Raimi told Vulture. "It was simply that we had a deadline and I couldn't get the story to work on a level that I wanted it to work.
"I was very unhappy with Spider-Man 3, and I wanted to make Spider-Man 4 to end on a very high note, the best Spider-Man of them all.
"But I couldn't get the script together in time, due to my own failings, and I said to Sony, 'I don't want to make a movie that is less than great, so I think we shouldn't make this picture. Go ahead with your reboot, which you've been planning anyway'."
Raimi recently admitted that he has not seen Marc Webb's reboot The Amazing Spider-Man, because he doesn't "have the guts" to sit through it.
Gallery - Spider-Man on screen: