The comedian appeared on the One Show with Alex Jones and Jermaine Jenas on Friday night where he set the record straight.
Little Britain originally aired from 2003 - 2006 and starred Lucas alongside former Britain's Got Talent judge David Walliams.
Alex Jones quizzed the comic about the possibility of a reboot, adding that the comedy series "was of its time".
Matt Lucas says Little Britain reboot rumours are 'not true'
Lucas immediately jumped in to say that the rumours around a new series are "not true".
Rumours began flying after Lucas revealed that the comedy duo were writing together again.
The ex-Great British Bake Off host cleared up the rumours, confirming he was working with Walliams on a new project.
Lucas even teased that the pair's plans were closer to a spin-off of their other comedy show 'Come Fly With Me'.
It comes after Lucas announced that he was leaving the Channel 4 Baking competition.
Lucas has hosted the popular baking competition for three series alongside Noel Fielding.
His reason for leaving the programme was due to no longer being able to commit to the series alongside his other projects including his new hosting role on the revived comedy show Fantasy Football League.
Walliams has also recently stood down as a judge on ITV's talent show Britain's Got Talent.
He reportedly left BGT in November, though sources claimed he was pushed after he was forced to apologise for his remarks.
In an incident picked up on the show’s microphones, and first reported by The Sun, Walliams made derogatory comments about a pensioner and a woman auditioning at the London Palladium.
Former Strictly Come Dancing judge, Bruno Tonioli, has also been confirmed as his replacement.