The 'What Makes You Beautiful' group, who were formed on the ITV show's 2010 series, said that they don't feel knowledgeable enough about the industry to sit on the panel.
"We don't feel like we are in a position to be giving strong advice," band member Louis Tomlinson is quoted as saying by The Sun.
However, Harry Styles admitted that One Direction found their recent guest stint on The X Factor Australia "really cool and fun".
The pair's comments come after X Factor boss Simon Cowell tipped them both for roles on the show.
One Direction are poised to release their new single 'Live While We're Young', which will be available to download in the UK from September 30 and in the US from October 1.
Their second studio album Take Me Home follows on November 12 in the UK and a day later in the US.
Watch the band's video for 'Live While We're Young' below: