Damon Lindelof says he "would welcome a future crack" at Lost, but that any new take should feature new characters.

Damon Lindelof, one of the men responsible for bringing Lost to the small screen, is undoubtedly aware of television's current trend of bring back old shows from the dead. The X-Files and 24are just two examples of cult TV series that have risen from the grave for new seasons and miniseries. Could cult hit Lost be next? According to Lindelof, there could be a Lost revival/reboot one day, but it won't be by his hand.
"Those characters not only died, but we showed you their experience post-death," former showrunner Lindelof told EW. "Any new take on Lost will probably have to feature new characters, as it should."
Lindelof and co-showrunner Carlton Cuse (Bates Motel) certainly didn't make things easy for a Lost revival. After all, the show's controversial ending was nothing if not final, showing every major series character in the afterlife just moments before the screen faded to black for the final time.
To Lindelof, that's the ending and he doesn't think there's much point to adding to the original story: "As it relates to Lost, which was so heavily serialized, I do think it’s somewhat of a betrayal to go back in and say there’s more story to tell that I just came up with now, especially when we had ample time to end it on our own terms."
That said, Lindelof does think there's something exciting about a new generation of writers and filmmakers driving a return to the Island in the future, saying that he'd be open to hearing pitches for a reboot/revival down the line.
"[Executive producer] Carlton [Cuse] and I always said that we welcome any future crack at the [intellectual property]. Lostwas bigger than us and bigger than [co-creator] J.J. [Abrams]. There’s something really exciting about the fact that George Lucas sold the Star Wars universe and now the people who grew up watching it are making it. Maybe the same thing could be said for Lost."
Time will tell whether we'll ever have a chance to return to the Island, but Lindelof is certainly right that a lot of people - including myself - spent a lot of time obsessing over many of the show's mysteries and loved every hour of the experience. There's probably someone out there with a swell idea for how to bring the show back.