The Lord of the Rings actor, who has previously been linked to Franka Potente and Ellen Page, split from longterm model/musician partner Pamela Racine in 2010.
Wood admits he's still on good terms with his exes, but it takes him time to welcome them back into his life after a split.
He tells The Insider, "I find it really difficult to be friends with my ex-girlfriends immediately.
"I always felt like I need at least six months to a year of time away - it's not a harsh thing, it's just about being able to differentiate between the relationship as a romantic one and your time as friends and re-establishing the friendship."
The actor joined his girlfriend, Gogol Bodello drummer Pamela Racine, on tour and he quickly proved he can be useful to have around - especially when your band is stopped by the infamously thorough cops in Arizona.
Band frontman Eugene Hutz explains, "They were really determined to find some drugs, so they're searching for, like, an hour until they obviously don't find any.
"One cop comes back with this shiny face, like he's got something. He goes, 'How do you explain your possession of this?' And it was a bag with Elijah's name tag on it.
"Five minutes later they're all taking pictures with Elijah for their families."
The Lord of the Rings actor has been dating model/musician Pamela Racine for five years since they met on the set of 2005 movie Everything Is Illuminated, which featured songs from her band Gogol Bordello.
But the 29-year-old Hollywood star is now said to have ended the relationship.
A source tells British newspaper the Daily Telegraph, "Elijah just didn't want to settle down. The last thing he wanted to do was hurt Pamela, but she's pretty cut up about the break-up."