"I've given it some thought. I went back to the (Ladies European) tour and told them that I appreciate the offer, but that I had passed," she stated. "It's in somebody else's court. I'm just not ready for this big commitment at this time."
Sorenstam, along with raising two young children and running her golf academy, placed a bid to design the Olympic golf course in Rio de Janeiro.
The Olympic committee recently delayed the announcement of who will design the Olympic course.
"I can't commit to anything until I know what will happen in Rio," Sorenstam explained. "With the decision being pushed back, I didn't want the Solheim committee to wait on me."
Sorenstam, an eight-time European Solheim Cup performer, owns team records for points (24) and most wins (22). She also played in the second-most matches (37).
The native of Sweden also said that she would not serve as an assistant captain like she did in 2011. Sorenstam stated on the show that she did offer a few names for consideration for the committee.
"The Solheim Cup has been an important part of my career, and I hope to one day lead the European team. However, after working with captain Alison Nicholas and her team this past year as vice captain, I saw first-hand the incredible amount of work and dedication it takes to be the captain," Sorenstam later said on her web site.
"With my young family, foundation, businesses, and other commitments I have already made to try and help grow the game, I simply cannot provide the necessary time that the European team, Solheim family, and the entire event deserves. This certainly was not an easy decision to make, as the Solheim Cup will always be very special to me."