The 26-year-old Welshman has decided to stay in the amateur ranks in order to pursue his dream of winning gold at the 2004 Olympic Games.
If all goes well in Athens, Evans said he will then be ready to launch a professional career.
Promoter Frank Maloney, who steered Lennox Lewis to the world heavyweight crown, offered Evans a contract to box as a professional.
"It was a very realistic offer and I was quite flattered by it, which made it harder for me to make a decision to stay amateur," said Evans.
"I sat down for a couple of days to think about it. But I've never been inspired by money.
"It's always been the simple things in life for me like representing my country in various tournaments around the world.
"I don't think you can put a price on memories like that."
Evans controversially lost his semi-final bout against eventually gold medallist David Dolan at this summer's Commonwealth Games in Manchester.
The referee stopped the flight in the first round because he felt the flow of blood from Evans' nose was too severe.
Evans captured a bronze medal at the 1999 world championships, but almost quit the sport after failing to qualify for the 2000 Sydney Olympics.
"By going to the Olympic Games and the world championships and hopefully winning a medal, then I can close that book.
"I will turn professional - there is no doubt about that. And when I do, I know I'll turn a few heads."
Maloney said he will watch Evans' progress with interest, and will undoubtedly make him another professional offer in the future.
"Kevin was very unlucky at the Commonwealth Games. To get stopped by a bloody nose was crazy.
"I told him medals don't pay mortgages, but he is determined to try to win an Olympic gold and I admire him for taking the gamble."