He officially left the music business in 2011 to become a full time father to his two young sons.
But now his sons are one of the main reasons he is keen to get back on the road.
In an interview with Rolling Stone Magazine, the 64-year-old said: "My kids are now 10 and 14 and they want to see what their dad does.
"They were in nappies when I was last on the road ... I'd like to take them out so they can enjoy it."
While saying he did not want a very long tour, Collins did hint he would like to play "stadiums in Australia and the Far East".
The former Genesis frontman also revealed he is moving a studio into his home in Miami, where he plans to start recording new music in November. He last released new material in 2002.
Across his career Collins has sold over 100 million albums worldwide, making him one of the most successful musicians of all time.