However, Fallon did not deny being considered for the job, reported Ace Showbiz.
"No, I'm not going to do the Oscars. It's an honor to be asked by the academy, but it's not my year," he said.
Fallon showed his hosting skill at the 62nd Primetime Emmy Awards in 2010, for which he received positive reviews.
Rumors have been circulating that talks between Fallon and the Academy of Motion Picture Arts and Sciences have fallen through.
ABC, which broadcasts the Oscars, reportedly objected to the fact that Fallon is the host of "Late Night with Jimmy Fallon". The NBC show is direct competitor of the ABC's "Jimmy Kimmel Live!".
