Earlier this week, rumours began circulating that Imelda Stauton had been approached to play the role in the fifth and sixth season.
But, the streaming service called the Daily Mail report about this particular casting “pure speculation”, stating: “We are currently filming season four of The Crown, but have not commissioned any further seasons as yet.”
The Crown is strongly expected to get renewed for two further seasons after the third – which was released last weekend – was met with acclaim by fans on social media.
Showrunner Peter Morgan plans to overhaul the cast every two seasons to reflect the ageing of the show’s characters, meaning Colman will be stepping down after season four.
Lady Diana Spencer will also appear for the first time, played by Emma Corrin.
Foy appeared in the first two seasons alongside Matt Smith, Vanessa Kirby and Victoria Hamilton.
Staunton, a star of stage and screen, most recently appeared in the film version of Downton Abbey.
The Crown is available to stream on Netflix now.