Bolt said in an interview with TMZ Sports that the "door is open" for a return, but added, "I don't think so. But when I see competition I definitely feel like I want to, but I'm not gonna do it."
The Jamaican superstar is one of the most decorated athletes in Olympic history with eight gold medals to his credit in the 100-meter, 200-meter and 4x100-meter events.
Bolt did admit that his feelings could potentially change once Tokyo 2020 gets closer: "I don't have the urge right now. Maybe when it comes around to the Olympics you never know, but right now I don't."
The 31-year-old Bolt announced that the 2016 Rio de Janeiro Games would be his final Olympics, and he went out on a high note with gold medals in each of his three events.
Bolt is the world-record holder in both the 100 meters and 200 meters, and he has more medals to his credit than anyone in Jamaican Olympic history.
Finland's Paavo Nurmi and the United States' Carl Lewis are the only men with more career medals in athletics with 12 and 10, respectively.
No athlete dominated sprint races more consistently over a three-Olympic stretch than Bolt, but if he feels the itch to come back the same way Michael Phelps did in swimming, Bolt has a chance to cement his place in history even further.