The legendary television presenter admitted in an interview with The New York Times that he's always wanted to host the sketch comedy show, but doesn't expect an invite.
"It's come up in my mind, but not theirs," Philbin teased. "I think the audience for that show would rather have some young guy playing a vampire somewhere."
Philbin did a cameo on a 1983 episode of SNL, where he and director Ron Howard tried to pass themselves off as that episode's actual guest George Kennedy.
Saturday Night Live has spoofed Philbin many times over the years, with castmembers Dana Carvey and Darrell Hammond impersonating the chatshow presenter in send-ups of his morning show Live!.
Philbin will leave Live! with Regis and Kelly on Friday (November 18) after nearly 29 years as the programme's host.
Earlier this week, the 80-year-old commented that he never expected to become a fixture of morning television and is very proud of his career accomplishments.
> Regis Philbin: 'Live! exit is bittersweet'
> Neil Patrick Harris joins Live! as a guest co-host with Kelly Ripa
Watch Darrell Hammond and Amy Poehler spoof Live! with Regis and Kelly on SNL below (US only):