Peter Reid had been hoping to lure the former Liverpool and England star to join his relegated Pilgrims and also make a start on his coaching career after a spell playing in Australia.
Fowler is off globe-trotting again however after receiving an offer from Thailand.
Reid told the Western Morning News: "It's a great pity Robbie has changed his mind. He was serious about joining me at Argyle.
"Robbie's goalscoring record speaks for itself. He remains a famous footballer, and that's why the Thai side went for him.
"When I spoke to him, he said: 'I'm sorry, I've had an offer from Thailand and it's too good to turn down'.
"It must have been a very good offer, because I know Robbie has been looking to dip his feet in the water and start coaching."