The group split from the label last year and released their In Rainbows album independently. They are currently signed to XL Recordings.
EMI recently announced plans to release Radiohead: The Best Of, a collection of tracks recorded during the band's time on the label, this summer.
Singer Yorke told The Word that an album of Radiohead's hits was pointless.
"We haven't really had any hits so what exactly is the purpose?" Yorke said.
"There's nothing we can do about it. The work is really public property now anyway, in my head at least. It's a wasted opportunity in that if we'd been behind it, and we wanted to do it, then it might have been good."
Discussing the group's high-profile exit from EMI, Yorke added: "Personally I just wanted to forget about it. It didn't feel right. And now it's like when you move house - you don't want to peer through the window and see what they've done with the wallpaper because it will only upset you."
Radiohead's highest charting single was 1997's 'Paranoid Android', which peaked at number three in the UK charts.