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Stipe's band REM broke up in September after 31 years together.
The frontman said that he didn't like the idea of a new solo album, as it would sound too similar to REM's previous output.
"It's unfathomable to me right now," he told Rolling Stone. "What would it sound like? Watered-down REM?"
On REM's split, he said: "It was important for REM to be finite, not let it become this thing that might or might not happen. We needed this not to be the elephant in the room: 'Why has it been three years and you're not talking about a tour or a new album? You haven't signed a new deal'. We had to put it behind us."
Speaking about what he would miss about the band, he added: "'Man on the Moon' - watching the effect of that opening bass line on a sea of people at the end of a show. And that is an easy song to sing. It's hard to sing a bad note in it."
REM guitarist Mike Mills recently said that Stipe would not go solo, and that he is more likely to take up art or photography.
> Michael Stipe: 'REM will only reunite if we really need money'
Watch REM perform 'Man on the Moon' below:
