Despite earning rave reviews for his hosting duties, a popular actor won't host the movie industry's biggest award event next year. According to Variety, Hugh Jackman will not be hosting the 2010 Academy Awards.

Jackman, who is currently starring in the Broadway play "A Steady Rain" alongside Daniel Craig, had reportedly turned down the offer in the past few weeks. Jackman won't rule out ever hosting the awards gala again, but it was said that he didn't want to host the ceremony for two years in a row.

RELATED: B.J. Thomas Dies, Grammy and Oscar Winning Singer Was 78

The 82nd Annual Academy Awards will air on March 7 and will be produced by Bill Mechanic and Adam Shankman.