Unfortunately the 39-year-old, who rose to film in 1997 with his show 'The Naked Chef', was unable to commit to a part in the blockbuster due to work commitments, reported Daily Express.
The celebrity cook spoke about the missed opportunity while filming his new Channel 4 series Jamie And Jimmy's Friday Night Feast, in which he interviews celebrities at a pop-up cafe with his friend, farmer Jimmy Doherty.
While chatting to Kate Hudson about parts she has missed out on over the years, Oliver revealed he could empathise with the actress.
"And if I did, they would fly me over and I could be a hobbit in the film. But I was working, I couldn't get out of it. I really wanted to do it, I would have got right into it as well," he said.