"I'm an optimist, as I said, and I don't think very much of such extreme possibilities, but I do know there is a political process in place," the President replied when asked by Reuters Video News who would run the country should an assassin succeed.
"There is no monarchy going on here, I don't have to nominate an heir. The people of Pakistan, the Assembly of Pakistan will select a person who would lead if I am not there," Musharraf said, speaking via a satellite link between Islamabad and London.
Under the Constitution the chairman of the senate would become acting president until a longer-term successor was chosen.
Musharraf has made it his mission to defeat forces of religious extremism in the country and coined the term "enlightened moderation" as his philosophy for Pakistan.
But, critics say the President, who was installed after a popular, bloodless coup ousted Prime Minister Nawaz Sharif in late 1999, has failed to rebuild country's democratic institutions.
Asked in the interview if he would consider working with Benazir Bhutto in order to garner support for his progressive polices, Musharraf said all moderate forces should join together before adding: "Let's leave personalities aside."
The release Asif Ali Zardari, on bail in November after being held for eight years had sparked speculation that Musharraf was trying to make a deal with Benazir's Pakistan People's Party ahead of elections due in 2007.