The Aerosmith singer has been a judge for the past two series on the talent show - alongside Jennifer Lopez and Randy Jackson - but he has ruled out returning for the 12th season in order to concentrate on music again after he "strayed too far" from his band.
He said in a statement: "After some long ... hard ... thoughts - I`ve decided it`s time for me to let go of my mistress `AmericanIdol` before she boils my rabbit.
"I strayed from my first love, Aerosmith, and I`m back - but instead of begging on my hands and knees, I`ve got two fists in the air and I`m kicking the door open with my band."
Steven admits he "loved every minute" of his time on `AmericanIdol` after having "over-the-top fun", but he is now committed to "bringing rock back" with the `I Don`t Want to Miss a Thing` hitmakers.
He added: "The next few years are going to be dedicated to kicking some serious ass - the ultimate in auditory takeover. On Nov. 6, we are unleashing our new album, `Music from Another Dimension` on the Earth, Moon, Mars, and way beyond the stars. `Idol` was over-the-top fun, and I loved every minute of it-Now it`s time to bring rock back."
Mike Darnell, Fox`s president of alternative entertainment, said in a statement: "It`s been a tremendous honour to have Steven - one of the most prolific artists in the world - on `AmericanIdol` for the past two seasons.
"He`s been a terrific judge, a true friend and great mentor to everyone involved with the show, and we know he`ll continue to be a huge inspiration to `Idol` hopefuls for years to come.
"We are very sad that Steven has chosen to focus more on his music, but we always knew when we hired a rock `n` roll legend, he would go back to the music. We all wish him all the best and would love to have him back on the show anytime."
Earlier on 12.07.12, Jennifer admitted she isn`t sure whether she will be returning for the 12th season of the talent show.