There's been a ton of rumors spreading around about the possibility of late-night talk show host Jimmy Fallon taking on the most prestigious awards show in the nation: the Oscars. But the rumors are now put to rest as Jimmy Fallon speaks up about the hosting job.

Unfortunately for those folks who were hoping that the comedian would take the stage for next year's Oscars are in for a disappointment. Not only was Jimmy Fallon offered the honor of hosting the 2013 Academy Awards, but he turned it down. The most intriguing part of Fallon's confession, taking place during an interview on the 'Today' show, was his reasoning for declining the job.

"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." That has to be one of the most humble and honest reasons that he could have ever given out. Granted, we think that Fallon could have done a good job hosting this next year, but if he believes that he'll be better prepared to take on hosting duties a couple of years down the road then who are we to deny him of that? We'll be eagerly awaiting to see what Fallon can do as our Oscar host whenever he finally accepts the job down the road.

What do you think? Do you believe that Jimmy Fallon should have been the host for next year's Oscars? Let us know in the comments and check out his full interview on 'Today' below.