The Taiwanese-American helmer committed to Howard Gordon's high profile drama soon after winning a second best director Oscar for his India-set drama in February.
However, Lee, who has often compared his experience of filming the movie for over four years to its shipwrecked protagonist Pi's journey of surviving the ocean, apparently too tired to proceed on anything new, the Deadline reported.
"It is with disappointment that I must confirm I have withdrawn from my commitment to direct the upcoming FX pilot Tyrant. It is one of the most brilliant ideas for a series that I've seen and one about which I was very excited," Lee said in a statement.
Lee, 58, is currently on the jury at the ongoing Cannes Film Festival.