The 53-year-old actor was tipped to replace Daniel Craig as 007 for years, but Elba has insisted he was never a serious candidate for the role.
Amazon/MGM Studios recently announced the search for the next James Bond is under way.
"My name's not getting thrown out, no way," the Luther star told People.
"They're going younger. And I wish them all the luck of the world. I can't wait - it's going to be amazing."
Elba insisted he was never among the contenders for the role, even though he was suggested as a possible Bond by many of his former co-stars.
"I'm honestly not in the race ever," he said.
"I wasn't in the race in the first place."
Meanwhile, Taron Egerton previously rubbished suggestions he could play Bond, insisting he's too "messy" for the role.
The 36-year-old Welsh actor has been tipped to replace Daniel Craig - but believes there are "so many cool, younger actors" who would be better-suited to the role.
"I don't think I'm a good choice for it," he told Collider when asked about the possibility of playing Bond.
"I think I'm too messy for that.
"I think I'm not - I really love James Bond and particularly Daniel Craig's tenure. But I think I wouldn't be good at it, and I think there's so many cool, younger actors who would be great for it.
"I think it would be wasted on me, probably."
Egerton said leading the Bond franchise was "quite an undertaking".
And he suggested the scale of the project might not suit him, either.
"That's not to say that I don't have aspirations and plans and also that I wouldn't be interested in doing something that's more commercial, because of course I would," the actor - who previously portrayed Sir Elton John in 2019's Rocketman - said.
"I think I'm in a period in my life where, as you say, I've been probably following the things that speak to me on a creative level a little bit more, but, you know, I'm sure I won't feel that way forever.
"But James Bond is quite an undertaking and I think, one, as far as I'm aware, nobody's asking me to do it."
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