The Sex Pistols star blasted the two groups, insisting that they care more about making money than producing good music for their fans.
"Coldplay and Radiohead bug the hell out of me because it's so soulless. It just seems pointless. It's nice, but it's tosh. They don't care about you. They care about lining their coffers," he told The Sun.
"There's nothing about heart and soul, they don't know about people dying, living, aspiring."
Lydon, who was paid £5m to front a TV campaign for Country Life butter last year, formed The Sex Pistols in London in 1975 and scored a UK chart-topper with album Never Mind The B*llocks, Here's The Sex Pistols two years later.
The group were inducted into the Rock and Roll Hall of Fame in February 2006, but refused to attend the ceremony, calling the museum "a p*ss stain".
Lydon recently admitted that he regrets allowing Sid Vicious to join the Sex Pistols.