The planned reunion was announced in August, with a six-episode run of a series based on the popular Bottom live show confirmed for next year.
However, Edmondson has now told BBC Radio Essex in an interview that the show has been scrapped, reports Radio Times.
He revealed: "There isn't a Bottom series four. There isn't anything. [Rik and I] started working on something and we realised why we stopped working together. It wasn't working."
He added: "I'm aware that people think comedy's easy to do and write and everything, and it relatively is to be honest.
"But once you get to a certain age you want to do things you really enjoy, not just things you can do."
A BBC spokesman confirmed that the series would no longer be going ahead, but declined to comment further.
