Nico Hulkenberg says he is on a "temporary break" from motor racing.
Despite never finishing on the podium, the 32-year-old was on the grid for a decade until Renault ousted him at the end of last year.
"I feel comfortable in the phase I am in," said the German, "(which is) not having to follow a calendar and able to live my own life.
"I will look around in the middle of the year to see what is and is not possible," he told the DPA news agency at the Laureus awards.
Hulkenberg admitted that a spot on the Formula 1 grid could even open up during the 2020 season.
"If there is a good sporting opportunity where I see potential, I will definitely push for it," he said. "Otherwise, I will look around for other things."
Hulkenberg also told the SID news agency: "For now, the situation is unchanged. I will not drive any races.
"But what happens next year or in the future is completely open."
He also commented on the plight of his countryman Sebastian Vettel, who many think is also now in the final phase of his Formula 1 career.
"Don’t write him off or underestimate him. Sebastian can always come back strong," said Hulkenberg.
"But he has a very strong teammate in Charles Leclerc who has been given even more confidence by the contract extension," the German added. "Let’s see how they handle it."