During an interview on BBC's The Graham Norton Show, the writer and producer said that the series is in "a nice limbo".
"I loved making it over there [in the US], and I would have carried on if circumstances hadn't brought me back to this country, so it's kind of in limbo for me at the moment," he explained.
"I'm not working on it at the moment. I'm only working on [new children's TV show] Wizards vs Aliens - when I get back to work one day, I don't know, it'll be old news to the BBC!"
He added: "It's not officially [cancelled]. It's in a nice limbo where it can stew - those shows can come back in ten, 20 years time."
Davies's comments echo those of star John Barrowman and executive producer Julie Gardner, who also described the show as being "in limbo" last autumn.
Barrowman said: "We've pushed the pause button now because we don't know what's happening. It's beyond my control."
"[Torchwood] has been across so many different channels and so many international audiences, across so many different story structures, and so many numbers of episodes," said Gardner.
"There's no single way forward for the show."
