The former X Factor finalist previously admitted it was unlikely that he would be back on the show for a third series, wanting to focus on his music.
Last year saw Olly only take part in the live shows, and this year he won't even get to manage that as he attempts to crack the US market
A 'show source' told the Daily Star Sunday this weekend: “Olly loves being on the show but there’s no way he can do it next year if he wants to crack America.
“He had to cut short supporting One Direction on tour this summer and he doesn’t want to do that again next year.
“He doesn’t have to decide yet but he’s made it clear he’s 90 per cent certain he won’t be back.”
Olly is set to go on to try and make it in the US as well as touring with Robbie Williams after a successful third platinum album.
Who says you need to win?
The source added: “2013 will be a huge year for Olly."
Meanwhile the newspaper claims that Caroline Flack will continue hosting the ITV2 spin-off show, with producers already considering a co-host to replace Olly with.
And apparently it could be Rylan.
A source told the newspaper:“Rylan was a big character this year and has already proved he’s a natural TV presenter while filling in for Richard Arnold on Daybreak.”