The comedian has played emcee to the prestigious ceremony for 12 years, first stepping on stage in 2001 to help hand over to Gladiator the award for Best Film, before taking a break between 2007-11.
In a statement, Fry said it was ”only right to stand down and let others take the BAFTAs on to new heights and greater glories”. He added: “What fun it will be to watch BAFTA 2018 without my heart hammering, mouth drying and knees trembling.”
“Every one of the 12 BAFTA Film Award ceremonies that I had the privilege of hosting has a place in my memory,” he continued. “The mixture of glamour, glory, drama and – occasionally – embarrassment and hiccup holds a unique place in the British film calendar.
“Over the last two decades I have especially loved watching the emergence of new young film talent behind and in front of the camera.”
During Fry's break from hosting duties, Jonathan Ross stepped in to take up the mantle. A new host for the ceremony will be revealed alongside the nominations on Tuesday, 9 January.
The BAFTA ceremony will take place 18 February.
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