The actress, who played Rose Tyler on the sci-fi show, was previously linked to a return following comments from Matt Smith about how he would like to work with Piper.
Speaking last summer, Smith said: "If I wanted a companion from the past I would say Rose because I am good friends with Billie."
However, Piper has quashed talk of a return during an appearance on The Graham Norton Show.
When asked if she was returning to the BBC series, Piper said: "No. I've not been asked.
"I think Matt Smith said something in passing or in jest like, 'That would be nice', and it became something, but no."
Piper starred alongside Christopher Eccleston's Doctor when the sci-fi series was rebooted by the BBC in 2005.
She also worked with Tenth Doctor David Tennant and last appeared on the show in the 2010 episode 'The End of Time'.
Watch Matt Smith and new assistant Jenna-Louise Coleman chat to Digital Spy below: