The new series is set to start in just over a month, but after Celebrity Big Brother in January, Denise says she couldn't handle a month in the Aussie jungle just yet.
"I don't think I'd do that one. I have been asked to do that several times. I don't think I would," she revealed.
Speaking to DigitalSpy, Denise said: "I don't want to jump out the plane. I'm not mad enough to say 'Never'.
"I said never to Dancing on Ice and Big Brother, and lo and behold there I was. I'd look an idiot if I said I'd never do it."
She added to the website: "I'd like to think that I can go back to my main love this year and leave reality behind a bit."
Stars lined up for the upcoming series of I’m A Celebrity are rumoured to include Tory MP Louise Mensch, Corrie star Ryan Thomas and former Strictly Come Dancing contestant Nancy Dell’Olio.
It was recently reported that bosses were keen to get Olympic stars on this year’s line up.
According to The Sun, names on the show's wish list include cycling champs Bradley Wiggins and Elizabeth Armitstead, as well as gymnast Beth Tweddle and swimmer Rebecca Adlington.
ITV is said to have approved offers over six figures in order to get the top talent onto both I'm A Celebrity and [cat]Dancing On Ice[/cat], which starts in the new year.
An ITV source told the tabloid: “It’s war between the rival shows to get the biggest Olympic names signed up and smash their rivals out of the water.
“The nation has fallen in love with the Games and the most popular athletes have shot to the top of the celeb target lists.”
[cat c="i'm a celebrity"]I'm A Celebrity 2012[/cat] will air on ITV1 this November.