Madonna doesn't think awards represent the success of her career and doesn't pay attention to them.
She added she did not care about having accolades bestowed on her in recognition of her career.
Asked if she felt it was about time that she was inducted into the Rock and Roll Hall of Fame, she said: "No. No. I don't know about awards and things like that. They're overrated."
However, she admitted it was "an honour" to induct her idol David Bowie – who died of cancer in 2016 – into the hall in 1996.
She said "To be connected with him in any way is an honour. I watched his documentary recently, just to be reminded of what a genius he was.
"So brilliant, so amazing. So fearless. He tried on so many things.
"He just went down so many roads and tried so many different genres of music too. And he really went for it and was fearless. He didn't care what people thought. I love that about him."
Madonna thinks Bowie "changed [her] life" and she was blown away the first time she saw him perform when she was 15.
She toldo MOJO magazine: "He changed my life. It was the first concert I ever went to. I remember just being frozen. Rigid.
"Staring up at this creature thinking, Oh my God, he's everything. He's male and female and beautiful and elegant and poetic and funny and ironic and other-worldly.
"And I recognised myself in him somehow and he gave me licence to dream a different future for myself."