The 36-year-old singer -- who has been performing with Queen since 2011, and touring with the band since 2014 -- would be considered an ideal choice to play the glam rock band's frontman. However, Lambert told ET's Keltie Knight that Malek is the perfect person to take on the role.
"I don't look like Freddie. I don't sound like Freddie. I sound like me," Lambert explained when asked why he didn't land the gig. "Rami looks amazing. He's a great actor. From what I understand, they used pieces of actual studio recording of Freddie and Marc Martel, who is an impersonator of Freddie Mercury, to do some of the other vocal stuff. So it's really about recreating Freddie. So no, it wouldn't have been me."
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NEW 'Bohemian Rhapsody' Trailer: Rami Malek Becomes Freddie Mercury
Malek completely transforms into the iconic Queen singer in the film, which Lambert revealed he's seen "parts of."
"What I love is the way that they show the music coming together with the band creating a song," Lambert expressed. "I found that really exciting having now played with Brian [May] and Roger [Taylor] for the last few years. Watching that process be recreated, I thought was really brilliant."
The American Idol alum, who is working on his fourth album, also shared that Malek has done his homework and attended "a few [Queen] shows."
"[I've] met him a couple times now. He's great," he added. "He's really good in the film too, very sensitive portrayal." Meanwhile, Queen and Lambert are set for a 10-date engagement, The Crown Jewels, at Park Theater at Park MGM in Las Vegas starting Sept. 1.
Bohemian Rhapsody, which arrives in theaters on Nov. 2, chronicles the band's rise to fame, Mercury's personal life and eventually Queen's legendary 1985 Live Aid performance at London's Wembley Stadium, which is still considered to be one of the greatest performances in the history of rock music.
Just last week, ET caught up with Malek at the grand opening of Intersect by Lexus, where he teased what fans can expect from the upcoming film.
"It's going to appeal to everybody," he shared. "I'll tell you, it will be a really fun experience, something everyone can go see. And then, maybe, there is a little gut punch in there every once in a while."