Parsons told the Daily News that he was "flattered" when asked to take on the job, but didn't think it was a "great idea."
He said, "I got stomach cramps just when the thought was broached… I just don't think I'd be good at it."
Instead, Tony Award winners Kristin Chenoweth, who currently stars in her Tony-nominated turn in On the Twentieth Century, and Alan Cumming, who recently wrapped up his yearlong run in Cabaret, will host the June 7 ceremony.
Parsons will begin performances as God May 7 at Studio 54, where the new play by David Javerbaum opens May 28. Click here to read more about the new show in Playbill magazine's interview with Parsons.
Click here for Playbill.com's complete Tony Awards coverage, including nominations, reactions, exclusive photos and more! The Tonys will air June 7 on CBS live from Radio City Music Hall.