Speaking on TV One's Q+A programme this morning, Ms Collins said she "obviously" wanted to return to a Cabinet position.
"I've made that very clear," she said.
"I was forced to resign over allegations that I was completely exonerated for not long after the election.
"I've made it very clear that that's exactly where I'd like to be, but I'm also very clear that in the mean time I'm happy working, giving good value for money for the taxpayer, I hope they feel that, and actually getting on with my life."
She declined to say whether she had spoken to Prime Minister John Key about her desire to be back in his Cabinet, saying: "I'm not going to go down the detail on that. I think it's not fair to do so, but the Prime Minister knows me very well and I know him very well."
It was "completely up to the Prime Minister" whether she returned to Cabinet, and when, she said.
Brushing off a question on whether she would aim higher and go for Mr Key's job when he stands down, she said: "Oh come on, I'm not even in Cabinet, I'm on the back-bench."
Mr Key says Judith Collins could return as a minister if a position came up, but dodged questions about whether he believed she was leadership material.
Speaking on the Nation this morning, Ms Collins said she was keen to return as a minister and would not rule out a tilt at the leadership in future.
Mr Key said Ms Collins was ambitious. "She's always been ambitious to get back in Cabinet and we'll consider that in due course if the opportunity presents itself."
He said that would require a position to open up and he was not aware of any ministers planning to leave. However, it was a possibility.
He would not say if he believed Ms Collins was the right material to be Prime Minister or party leader.
"That's not a question I will ever have to worry about because that will be post my time, obviously."
Nor did he feel he had to watch his back. "Definitely not."
He said it was premature to be talking about Ms Collin's leadership ambitions. She's got a deep passion about politics and the party."
Over the past fortnight, Ms Collins was one of the few National MPs willing to comment on Mr Key's actions in pulling the ponytail of a waitress, saying although it was not appropriate to do such things he had apologised and meant no harm.
She has a newspaper column and also appeared on Seven Days and split her staffing entitlement so she is the only Government backbench MP with a press secretary.
Mr Key said Ms Collins was not acting out of bounds. "Judith is no shrinking violet. She's never been a person who hasn't been prepared to make comments. But that's no bad thing. She's not doing it on an unauthorised basis. We are aware of what she is doing."
Although Ms Collins said she was "forced to resign" during an investigation into whether she had undermined former Serious Fraud Office head Adam Feeley, Mr Key said she had made "a sensible decision to step down" during that process.
