The show's co-creator was speaking at the Twin Peaks Retrospective at the University of Southern California when he was asked about a possible third season of the show.
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"Twin Peaks is a continuing story," Frost said on the panel. "That comes from David Lynch and myself."
Frost had previously brushed aside rumours that NBC was working on a return of the classic cult drama.
"Dear Internet: You are very good at spreading rumours," he said at the time. "Truth is more valuable and much harder to come by."
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Copyright: Moviestore Collection / Rex FeaturesNBC's Jennifer Salke later said that the rumours had sparked interest at the network of a revival.
"When it came up we all looked at each other and said, 'That's a good idea'," she said.
"We were all kind of like, 'Hmm, we like Twin Peaks!' So, I'll send some emails today, and see what I can get to come in."
Co-created by Frost and Lynch, Twin Peaks originally ran on ABC for two seasons between April 1990 and June 1991. A spinoff movie - Twin Peaks: Fire Walk with Me - followed in 1992.
Frost also revealed at the retrospective that he is talking to lawyers about the release of the deleted scenes from Fire Walk with Me, attendee Courtenay Stallings reports.
Fans have long campaigned for the release of the scenes on DVD, and Frost told SciFiNow last year that a release could be imminent.
"There's a large chunk of the movie that's never been seen because David had to cut it down to a more manageable length for release," he said.
"We're hoping that sometime in the next couple of years we're gonna be able to release those scenes. There's about 45 minutes of material so that's something people will be able to see pretty soon."
Watch Dale Cooper's first Red Room dream from Twin Peaks below: