Tyler reportedly said he will focus on his band, Aerosmith, where he is the lead vocalist.
“The next two years are dedicated to kicking some serious ass,” Tyler said in a statement.
According to reports, Aerosmith has a new album and a Global Warming Tour. Their fifteenth studio album, Music from Another Dimension!, is expected to be released on November 6.
Who will take over Tyler?
Several names have surfaced online. These include Adam Lambert, Miley Cyrus, Katy Perry, Nicki Minaj and of course, controversial actor Charlie Sheen have been rumored as his possible replacement.
Tyler had a two-season stay in American Idol, Season 10 and 11.