The current Strictly pro says she wants to stay on the dance floor rather than sit behind the judges desk.
It follows the news that Darcey Bussell is quitting Strictly after seven years on the BBC One show.
She used to sit on the panel alongside Craig Revel Horwood, Bruno Tonioli and head judge Shirley Ballas.
Oti, who was recently a guest judge on BBC One's The Greatest Dancer, ruled out taking over from the ballet star today.
"I think I would absolutely miss [dancing] and that part of it," she told BBC Radio 2. "I love dancing I love coming to the rehearsals I love being a part of the group it’s a really special group to be a part of...
"There are no dancers like Strictly Dancers, how close we are.… I think I would absolutely miss that and that part of it."
In a separate interview with Hello! magazine this week, Oti called on Strictly bosses to hire someone "completely different" to takeover from Darcey.
Oti said: "What she brought to Strictly was so special.
"Her replacement has to be completely different from what we have had, but someone who has the nurturing nature of Darcey."
Currently former pros Ian Waite and Karen Hardy lead the odds on replacing Darcey, according to Ladbrokes.
Ex Strictly professional Karen Hardy is the frontrunner with the bookies at 3/1, however a huge surge of bets on Ian Waite have seen his odds cut into 7/2 from 6/1.
Anton Du Beke finds himself chalked up at 4/1, while 7/1 is the price on offer Alesha Dixon makes a sensation return to the show.
There’s a 8/1 chance Ola Jordan’s expertise is called upon, which rates her more likely than husband James who’s an outsider at 14/1.
Jessica Bridge of Ladbrokes said: "It Takes Two viewers will be sad to see Karen or Ian leave the spin off show, but if the money’s to be believed, one of them will be waltzing onto the Strictly judging panel.”
Meanwhile, the Daily Mail newspaper has reported that Bonnie Langford is also a "contender" for the role.
A source told the publication: "She seems to tick all the boxes and because of her recent role in EastEnders as Carmel Kazemi, she is seen as very BBC.
"She is one of the standout names being discussed – it’s all very exciting."
Strictly Come Dancing airs on BBC One from September.