Coronation Street producer Phil Collinson confirmed last June that he had approached her agent about signing her up for a short stint.
Speaking in this week's Radio Times, the legendary actress explained: "I did once mention that I'd love a part in Corrie and they were immediately on the phone to various agents."
"But I think that might have to wait for later in my career now," the 62-year-old added.
Walters, a longtime fan of the ITV soap, has consistently stated her keenness to join the Weatherfield cast over the past few years.
Cheryl Cole and Kim Kardashian have both put themselves forward for a part in Corrie this year.
Meanwhile, Snoop Dogg recently reiterated his desire to make an appearance on the cobbles, suggesting that his character should be married to Cole's alter ego.