Earlier this month, Ray told Sky News that his brother was "coming round" to the idea of putting the group back together, 14 years after they officially split.
However, Dave has now said he would never entertain the idea of a reunion, stating it would taint the band's legacy.
"It would be a shame. You don't need to see silly old men in wheelchairs singing 'You Really Got Me'," he told the Daily Mail.
Dave, who has a famously volatile relationship with Ray, described his brother as a "arsehole" and claimed that relations have worsened since Ray was given a CBE in 2004.
"You've heard of vampires - well Ray sucks me dry of ideas, emotions and creativity. It's toxic for me to be with him. He's a control freak," he added.
Earlier this year, Kinks drummer Mick Avory claimed that the band had recorded eight tracks for an album of old and new material, although no release date was confirmed.
Founding member and bassist Pete Quaife died in June.
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