The original 1996 horror movie, which also starred the actor's estranged wife Courteney Cox, was a box office hit, pulling in $173 million (£108 million) worldwide and spawning three sequels.
The fourth outing hit screens last year (11) but Arquette admits a fifth Scream film is not in the works, and he is urging cinema-goers to take action if they want to see it happen.
In a series of posts on Twitter.com, he writes, "To all interested - there has been no talk whatsoever about Scream 5. As of now it's not happening. If you're upset there is no Scream 5 write To http://weinsteinco.com/mobile/ and ask them to make it."