The Genesis star has been at odds with the Oasis brothers since the 1990s when Noel described Collins as "the antichrist of music" and declared he wanted to have the musician's "severed head" in his fridge "by the end of this decade".
Now the warring musicians are being brought together as inductees into the Rock and Roll Hall of Fame in November - and Collins is hoping a pre-ceremony lunch will allow him to speak to the Gallaghers and put the bad blood behind them.
"There's a lunch that happens before the ceremony. Just the inductees and a guest. So I will get a chance to be in a small room with them," he told The Observer newspaper.
"(I've got) nothing against them. The whole thing has got to comical levels … I'm sure they'll brush it off, as if nothing happened."
Collins added: "I'm soft as a person. Musically, I'm not edgy. I would be everything that Noel and Liam would probably dislike. So, I understand it.
"But it's got a life of its own now. So, yeah, we'll see."
Noel Gallagher declared in 1994 he hated Collins, saying: "We're gonna get rid of Phil Collins and Sting – junk food music, McDonald's music – we've got to get in the charts and stamp them out.
"I want the severed head of Phil Collins in my fridge by the end of this decade. And if I haven't, I'll be a failure."
Several years later in 1997, Noel took another shot at the Genesis star by urging UK voters to back Labour in the 1997 election to ensure Collins would not move back to Britain from his adopted home in Switzerland.
Noel told the Guardian newspaper: "If the Conservatives get in, Phil Collins is threatening to come back and live here. And let's face it, none of us want that."
Collins also hit back at the band, calling them "rude" and "horrible" while his actress daughter Lily Collins is said to have confronted singer Liam Gallagher over the feud when she met him backstage as a teenager at the Live Earth charity concert in 2007.
Lily is believed to have asked Liam: "Why do you hate my dad?" and Liam is said to have replied: "I don't hate anybody, love."