The "Family Guy" creator earned mixed reviews as emcee of Hollywood's biggest night this past February but it was unclear until Monday whether he might try it again.
"Traumatized critics exhale: I'm unable to do the Oscars again," MacFarlane tweeted. "Tried to make it work schedule-wise, but I need sleep."
"However, I highly recommend the job, as Zadan and Meron are two of the most talented producers in the business," MacFarlane said of Craig Zadan and Neil Meron, who will produce the telecast for a second year. "My suggestion for host is Joaquin Phoenix."
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