The `If I Had a Gun` singer is envious that his brother Liam managed to convince all of the other final members of Oasis - bassist Andy Bell, guitarist Gem Archer and drummer Chris Sharrock - to form a band with him because he wanted Gem to be in his solo project The High-Flying Birds.
Noel - who left the group in 2009 following a bust-up with Liam - said: "I should have had custody of Gem, and I`m f***ing jealous that he`s in Beady eye and no in the High-Flying Birds, I`ve gotta say. He`s my mate, but no.
"I left with dignity and grace and everybody did their own thing."
Oasis experienced several line-up changes over the years but Noel believes if the band ever reformed, only the final incantation of the group would be involved.
He said: "It would be the last line up. We always used to say whoever was onstage that night, that was the definitive line up.
"The last gig we ever did. To me, is the definitive line-up. So it`s always me, Gem, Andy, Liam and Chris Sharrock."
However, the rocker doesn`t believe a reunion will ever happen.
He told NME magazine: "I don`t think either Oasis or The Smiths will reform. I think Morrissey and Marr, probably, but I don`t think The Smiths will ever reform. And Oasis, at the moment, no. Morrissey and Marr is probably more on the cards."