It was confirmed this morning that the 60-year-old has left a vacancy at this year’s ceremony, with a replacement yet to be named
Fry said: “Every one of the twelve BAFTA film award ceremonies that I had the privilege of hosting has a place in my memory. 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.
“But after so long a time I felt it only right to stand down and let others take the BAFTAs on to new heights and greater glories.”
He added: “I want to thank all the production staff, Amanda Berry and her wonderful BAFTA colleagues, the BBC and all those who helped make every year so enjoyable.
“I reserve especial gratitude and imagination for Ivor Baddiel and Phil Kerr, whose work on the scripts was so skilful it made people think I’d written every line myself.
“What fun it will be to watch BAFTA 2018 without my heart hammering, mouth drying and knees trembling.”
The next BAFTA host will be announced when the nominations are revealed next Tuesday, January 9, but Graham Norton has been made favourite with bookies.
He has been given odds of 5/4 with Ladbrokes, with Claudia Winkleman close behind on 2/1.
Jonathan Ross (4/1), Ricky Gervais (5/1) and Richard Ayoade (6/1) are also thought to be in the running, while punters can get 100/1 odds on Rylan.
Meanwhile, yesterday saw the emergence of the nominees for the EE Rising Star Award, the only category to be decided by a public vote.
They are Timothee Chalamet, Daniel Kaluuya, Josh O’Connor, Florence Pugh and Tessa Thompson.
The BAFTA film awards will make place on February 18.