The actor has been on an extended break from his role as Lloyd Mullaney, who finally returns to Weatherfield in early July.
Speaking to Soaplife, the 47-year-old explained that he now hopes to remain on the cobbles following his time away filming Red Dwarf.
Charles commented: "I don't want to leave - I've just signed another extension. I had a three-year deal with options and I've just picked up my options. I'm going to be able to explore different sides to Lloyd's character."
Lloyd's return storyline sees him come face-to-face with Steve McDonald (Simon Gregson) while he is out working for another cab firm.
Charles continued: "He invested in a land deal in Jamaica with a family member, but it went belly up. So he's come back to Manchester and is working for a dodgy old cab firm and one day his engine blows up. When the smoke clears, Steve is standing there and they start chatting.
"Steve offers Lloyd a job back at Streetcars - but Lloyd gets the idea he's inviting him back as a partner."
Asked how Lloyd reacts to the news that Steve only wants him as a driver, the actor replied: "He's not happy. He says they have unfinished business and storms off and sleeps on Eileen's sofa for a couple of nights."
Coronation Street airs Lloyd's return on July 2.