The 63-year-old star hosted the ceremony eight times between 1990 and 2004 and said he would be interested in taking up the hosting role again one day.
Speaking during a recent 20th anniversary screening of City Slickers, he said: 'It got to be too much after a while and the sameness in my life.
'That's why I pulled back. And then when I thought I might want to do it again, they were on to other people. It's always fun. It's really hard, but maybe one or two more times? I don't know. They know where I am.'
He added: 'I got a little itchy. So we'll see what happens. I can't promise anything.'