Fox confirmed earlier this year that a fourth season of the talent competition would not be commissioned, due to lagging ratings.
Cowell would subsequently return to the original UK version of 'The X Factor' as a judge alongside Cheryl Fernandez-Versini, Mel B and Louis Walsh, reported Digital Spy.
Cowell said that it was a mistake not to continue the format in the US.
"I think, on both sides, it was a mistake to throw the towel in. I felt I'd rather be doing a show where we're wanted in the UK than pushing something uphill," Cowell said.