"I cherish Kentucky, heart and soul, and while I'm very honored by the consideration, we have just finished an election, so let's focus on coming together to keep moving America's families, and especially our kids, forward," she said in a statement, adding that she was honored to be mentioned as a potential candidate.
The former Kentuckian currently lives in Tennessee and is an active supporter of Tennessee Democrats. Judd would have to re-establish a residence in Kentucky before she could challenge Senate Republican Leader Mitch McConnell in his 2014 re-election bid.
No Democrats have stepped forward to challenge McConnell, a political powerhouse who already has $6.8 million in the bank for his re-election. In 2008, McConnell won re-election to a fifth term and became Kentucky's longest serving senator.
"Sen. McConnell and his wife are big fans of Ashley Judd's movies and appreciate her energy, especially when it comes to bringing young people into the political process," said McConnell campaign manager Jesse Benton.
The Associated Press contributed to this report.