The 'Shape of You' singer is already reading his follow-up to last year's record-breaking LP 'Divide' and says he could probably "get away" with releasing whatever he likes.
He said: "I'm just excited for the next album now.
"It's mad having three back-to-back that kind of have this much success.
"It's mad now you can kind of get away with doing what you want musically."
The 26-year-old star said that if he was to drop a "random" off-the-cuff record , he'd do a collection of "traditional folk" tracks.
He told The Sun newspaper: "like Sir Rod Stewart that album of swing covers - you can just do stuff like that and it wouldn't surprise me.
"Or Lady Gaga doing that brilliant thing with Tony Bennett
"I'm not saying I am doing a swing album.
"If I was gonna do a random one I'd do traditional folk songs.
"But I think that's probably like, 10 years away."
Meanwhile, Ed recently revealed he wrote a James Bond theme three years ago "just in case".
The 'Castle on the Hill' hitmaker has never been approached to write a song for one of the iconic movies, but if bosses of the spy saga do ever knock at his door for help on the soundtrack, he's all ready to go.
He said: "With Bond, I've had a theme tune written for about three years, just in case!"
And the flame-haired star admitted his recent collaboration with Eminem, 'River', was also something he had had ready for some time.
He said: "I just recently did a song with one of my all time heroes, Eminem and when we did the song together I had already had this song. It's the same with Bond. If ever I am called, I will be like, 'Here you go.' "