Woods, who won the last of his 14 majors in 2008, dropped out of the world top 50 after a host of personal problems.
He has since returned to number two in the world, but Faldo does not believe that the American will break the all-time record.
"I think it's slim, people want a yes or no, I'd lean towards no. As you get older the little demons sit on your shoulder, you've seen one too many bad shots at the wrong time, and it starts to eat away at you," he told reporters.
Faldo won six major titles during his career.