"At the moment, I am very, very comfortable with Ricky Ponting (current Australian captain). I have never looked at myself as being a captain," Lee told reporters in Bangalore.
"I enjoy being a senior player", he said, adding as he gets older his role is to definitely help younger players to come through.
"Captaincy? No thank you."
Lee, who was in Bangalore on Thursday to promote Timex Watches, of which he is the brand ambassador, made no secret of his wish to act in Hindi films.
"I hope one day I will feature in a Bollywood movie. That's going to take time. When I do, I will do it properly."
Lee said he needs to brush up his acting skills, as also learn as much Hindi as he can.
The express bowler, who is missing the World Cup as he is currently recuperating from an ankle injury, said he is now targeting the Twenty-20 World Cup as well as Australia's away one-day series against India.
On Ireland and Bangladesh making it to the Super-8 stage of the World Cup in the West Indies, he disagreed with those who called the two teams "minnows".
The two teams are just "less experienced" as they don't play as much as countries such as India, Pakistan and Australia do, he said.
Photograph: Dibyangshu Sarkar/AFP/Getty Images