The 46-year-old "Bodyguard" star took to Twitter to announce that he will concentrate on films only.
"No IPL team for me just being human and movies," he tweeted.
Salman is currently busy shooting younger brother's Arbaaz's directorial debut "Dabangg 2" with co-star Sonakshi Sinha. The film will hit theatres on December 21.
IPL teams like Kolkata Knight Riders, Rajasthan Royals and Kings XI Punjab are owned by Bollywood celebrities like Shah Rukh Khan, Shilpa Shetty and Preity Zinta respectively.