"I just feel like that gig is so hard," the comedian and producer told The Huffington Post. "Especially for, like, a woman -- the amount of months that would be spent trying on dresses alone . . . no way."
Asked if there was at least a one in a million chance, Fey replied, "I wish I could tell you there was."
In addition to the rave reviews she and Poehler received for hosting the Golden Globes on Jan. 13, the two were name-checked by William Shatner, playing his iconic starship commander James T. Kirk, in the opening skit of Sunday's Oscars.
Acting concerned about the choice of the risque SethMacFarlane as host, Shatner lamented, "Why couldn't they get Tina and Amy to host?"
Fey, 42, said, "It's an honor to be 'Shatnered.' "
The Oscar host is usually chosen by the producers of the Academy Awards show and is announced about five or six months before the ceremony in February.
With the recent finale of her NBC show "30 Rock" after seven seasons, Fey has kept busy with film projects including the upcoming "Admission" with Paul Rudd, opening March 22. She'll also play a Russian prison guard named Nadya in "The Muppets . . . Again!," currently filming in London and set for release in March 2014.