Pyke departed the Crows at the end of 2019 after four seasons at West Lakes, a tenure that saw the 53-year-old lead Adelaide to a grand final finish.
The former Claremont coach's stint with the Crows was marred by the club's infamous pre-season training camp saga, while a 10-12 record and 11th placed finish in 2019 spelt the end for Pyke's rein.
Pyke's name has been floated for several senior coaching roles across the past 12 months, with the US-born mentor ben linked to Collingwood's vacancy at the end of last year.
With the Bombers beginning their search for an experienced new head coach, Pyke was questioned on whether he'd entertain discussions with Essendon.
Speaking ahead of his side's qualifying final against Melbourne on Friday night, Pyke couldn't categorically rule out running for the job.
"I'd say it's unlikely at this point," Pyke said.
"I'm enjoying what I'm doing at Sydney at the moment. I've enjoyed getting across and working with John and the playing group.
"[I'm] really focused, for now, on this finals series. We've worked long and hard over the last couple of years to get ourselves a great opportunity and I'm looking forward to working with the group in the next little period of time which is exciting.
"I don't rule anything out. It depends on the opportunities it presents. But as it stands at the moment, as I said, I'm really enjoying what I'm doing at Sydney."
Pyke amassed a 56-1-36 record in his time with the Crows and is an integral part in the Swans' strategic planning.
Should he pursue a process to contend for the Essendon position, Pyke could come up against the likes of Demons assistant Adem Yze, former St Kilda and Fremantle coach Ross Lyon, and Bombers great James Hird.
Essendon are set to begin an external review into their football department this off-season, while the club have named a six-person panel to lead their coachuign search, headlined by Hawthorn champion Jordan Lewis and former Carlton coach Robert Walls.