Phoenix, 37, told Interview Magazine: "I don't want to be a part of it. I don't believe in it."
The actor has been tipped for awards success The Master, in which he plays a war veteran.
He was nominated for an Oscar for his role as music legend Johnny Cash in Walk The Line in 2005.
Phoenix said he was dreading the upcoming Hollywood awards season which culminates with the Oscars in February 2013.
"It's a carrot, but it's the worst-tasting carrot I've ever tasted in my whole life. I don't want this carrot," he said.
"It's totally subjective. Pitting people against each other....It's the stupidest thing in the whole world."
Phoenix described the period when Walk The Line was up for multiple awards seven years ago as "one of the most uncomfortable periods of my life."
"I never want to have that experience again," he revealed in the interview.
"I don't know how to explain it - and it's not like I'm in this place where I think I'm just above it - but I just don't ever want to get comfortable with that part of things."
The Master, which also stars Philip Seymour Hoffman, is Phoenix's first feature film since I'm Still Here, Casey Affleck's spoof 2010 documentary which chronicled Phoenix's supposed retirement from acting to launch a career as a rapper.
Phoenix called that experience "unbelievably liberating" and said it was hard subsequently to find projects that interested and excited him.
"I mean, everything that they teach you when you're a kid about acting is completely...wrong. They tell you to memorise your lines, follow your light, and hit your marks. Those are the three things that you shouldn't do.
"You should not learn your lines, you should not hit your mark, and you should never follow your light. Find your light - that's my opinion," he said.

The US economy added 215,000 jobs in July, while the unemployment rate held at a seven-year-low of 5.3%.
The Dow Jones closed down 46.37 points at 17,373.38, while the S&P 500 dropped 5.99 points to 2,077.57.
The tech-focused Nasdaq index fell 12.90 points to 5,043.54.
Although the number of jobs added in July was slightly below expectations, the figures for May and June were revised upwards by 14,000.
Among individual stocks, Groupon fell 5.34% after the daily deals website reported disappointing revenue growth.
Second quarter revenues rose 3.1% to $738.4m, which was below expectations. The firm also said revenues for the current quarter were set to fall to $700m-$750m, from $757.1m a year earlier.

Bingham, who won the World Championship in 2015, reached the semi-finals of the 2016 event before being knocked out by eventual winner Ronnie O'Sullivan.
The 39-year-old told BBC Essex he would play in this year's tournament if his wife gives birth before his first-round game against Joe Perry on Monday.
"The only question I'd ask myself is if she actually went on the day," he said.
"Obviously it could happen and even now I still haven't got an answer to that question. I'd have to talk it over with my wife and see where we go."
Bingham, the current world number two, said his wife has been supportive in wanting him to play at the tournament, which gets under way on Sunday.
He continued: "She's had two previous babies and she's been in labour for 10 hours, so obviously if that's the case then I've got a bit of time to 'pot some balls and hurry up' sort of thing.
"As I say, we need to talk the next day or two because we thought it'd be out by now.
"But being the stubborn Little Miss Bingham it's going to be, I think she's a bit too comfortable in my missus' belly."
Joaquin Phoenix has said he wants no part in the movie industry awards season, calling the awards "stupid" and "subjective".
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(Close): US stocks fell and the dollar fell against the yen and euro, after the latest jobs figures were seen as leaving the door open to a rate rise in September.
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Stuart Bingham may pull out of the Masters if his wife goes into labour with their third child.