The 66-year-old singer has only released a handful of tracks in his own name since the US rockers split amicably in 2011 but has revealed that he is putting the finishing touches to his album after several delays.
Stipe told The Sunday Times newspaper: "I'm working on a solo album. But it's taken longer than I wanted."
The Everybody Hurts artist continued: "COVID didn't help, but I'm finishing it. When the band split, I just needed a break. I took five years but I got pulled back into music. It's been a struggle.
"I want it to be great, but I've got the pressure of having been in R.E.M., and it's a high bar, because I want this to be as good as that, and that's near impossible.
"So it's f****** exciting but also terrifying, and I'm doing the music for the first time too, and I think I'm good at it but not great."
The interview also revealed Stipe has still eight songs to finish before the record is complete.
He feels that his songwriting offers an "escape hatch" for listeners as there is a sense of optimism even in R.E.M.'s bleaker songs.
"There is always hope in my writing. I am an optimist, ultimately - even if it's a realisation in one's last breath that they blew it. At least they are aware they blew it. To move through a life not recognising one's mistakes or regrets is pretty sad."
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