Jimmy Fallon: ‘I’m Not Gonna Do the Oscars’

Fallon says he was asked but opted out

Jimmy Fallon says he was asked to host the Oscars, but he isn't going to do it.

"I'm not gonna do the Oscars," he told Matt Lauer in a "Today" interview from the London Olympic Games. "I was honored to be asked by the Academy, but it's not my year."

Also read: Obama Slow Jams With Jimmy Fallon

Fallon's decision came after a week of speculation that the host of NBC's "Late Night With Jimmy Fallon" might jump to another network for the night to host the Oscars when they air on ABC in February.

As TheWrap reported last week, outgoing Academy of Motion Picture Arts and Sciences president Tom Sherak talked with Fallon and producer Lorne Michaels about hosting and producing next February's awards.

Those talks broke off when a deal could not be reached prior to last week's Academy presidential election.

Also read: Fallon Teams With Paul McCartney, Eddie Vedder, and Justin Timberlake for New Album

The new Academy president, Hawk Koch, is now the point man in discussions about the ceremony's host.

Fallon joked with Lauer that he was only in London to check out the pubs.

"I love London," he told Lauer. "They're doing the Olympics great. I see it right from my hotel TV!"

Watch the interview:

Visit NBCNews.com for breaking news, world news, and news about the economy