Since the Italian resigned last Monday, because of a number of off-field events including the sale of star man Matt Ritchie, the Robins have been taken over by a new consortium.
And the former West Ham striker remained short odds with a number of bookmakers to make a sensational U-turn.
When asked if there was any chance he would return to the managerial hotseat he told Sky Sports News: "No because they didn't prove to me that they wanted to keep me.
"So this was enough, no chance. My chapter at Swindon is finished in terms of being the manager at Swindon football club.
"I didn't see a very strong desire to keep Paolo Di Canio at this club so for that reason I decided to leave the club.
"I am a straight man and I handled a situation this year that was absolutely incredible, I don't have any regrets."
Di Canio joined the club in May 2011 and departed with the Robins top of the table having overseen their promotion from League Two.
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