NEW YORK (TheWrap.com) - 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 honoured to be asked by the Academy, but it's not my year."

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.

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.