The 60-year-old director, who started out as a child actor, said that he has been offered roles by the Coen brothers and Martin Scorsese, according to The Hollywood Reporter.
Howard said he sacrificed his acting career in order to spend time with his wife and young children.
"Now the kids are all grown - empty nest - and she can't wait to get rid of me. 'Hey, you wanna act?' Because I do move from film to film, I've never had the time to commit, but one of these days, I am going to make the time," Howard said.
He won the Academy Award for Best Director in 2001 for his work on 'A Beautiful Mind'.
In 2002, Howard conceived the idea for 'Arrested Development' and serves as an executive producer and narrator on the show, as well as making numerous appearances.