The Black Sabbath frontman has said that he "wouldn't mind maybe doing one episode" of the MTV show that propelled the family to fame.
But the former X Factor judge, speaking at the Glamour Women Of The Year awards, said that the TV series, which finished almost 10 years ago, was not something she would consider returning to.
She said that there was no way she would resurrect the famous fly-on-the-wall show, which has spawned several imitations.
"No, definitely not," she said. "It was nice to be the first but we're not going backwards."
She added that her husband had fond memories of The Osbournes, which propelled the couple's children to fame, because Jack and Kelly were younger and had not yet gone on to build their own lives and careers.
She also insisted that there was no prospect of her ever returning to The X Factor, following her successful stint last year.
"That's done," she said.
Her rocker husband previously told Q magazine: "I wouldn't mind maybe doing one episode; The Osbournes now, what's happened to us all, that kind of thing, but I don't know that we'd want to do a full series."
The singer, who temporarily separated from his wife last year because of his drinking, said that she would have the final say.