The ex-Ukip leader told The Independent that Conservatives were "terrified" of considering a second vote, because it would tear their party apart.
He said he believes a second referendum would be triggered by Parliament voting down the Brexit deal offered by the EU.
Mr Batten said the party wouldn't be discipling Farage, but finished: "He has been in this job long enough and he is experienced enough to know that he was handing something on a plate to our political opponents".
"What is for certain is that the Cleggs, the Blairs, the Adonises will never give up. I'm [maybe] reaching the point of thinking that we should have a second referendum".
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Following Nigel Farage's comments on television this morning that 'Maybe there should be a second referendum' it is now 5/1 that we will go to the polls again before 2019.
"We may just finish the whole thing off and Blair can disappear off into total obscurity".
With the Article 50 process now well underway, the likes of Tony Blair have been leading the argument for another referendum in the hope of reversing Brexit. He said that to avoid sleepwalking "into a faux Brexit" people should "go back the polls and let the people shout from the rooftops their support of a true Brexit".
Mark Malloch Brown, a peer who chairs the Best for Britain campaign, said another referendum was "something that the country needs".
Many of them reacted quickly in support of Farage's proposal, expressing confidence about winning the second time around.
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Both the Greens and Vince Cable's Liberal Democrats, who are calling for a "referendum of the facts", have so far backed the idea of having a further Brexit vote.
U.K. Prime Minister Theresa May backed remaining in the bloc during the European Union referendum in 2016 but has insisted there will not be another referendum on Britain's European Union membership.
Prime Minister Theresa May has previously insisted a second referendum would be a betrayal of voters and Downing Street said there would be no re-run. The government "remains very clear: there will not be another European Union referendum", a spokesperson for May said.
The former UKIP leader said on Thursday that a second poll would stop Remainers "whinging" about the result.
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