According to The Sun, the former Oasis star was approached to replace Simon Cowell on the show and was told to 'name his price'.
But the 43-year-old said that he has his own career to concentrate on, and that he has a 'duty' to stop estranged brother Liam's new band, Beady Eye, from 'stinking up the bottom of the charts'.
A source told the newspaper, 'Noel could name his price.
'Simon promised global fame and a crack at the US panel in future years. He was setting it up for him to make the show his own and fill his boots.'
Louis Walsh and Dannii Minogue are yet to be confirmed as returning judges and it is still unclear if Simon will continue to work on both the UK show and the US version.