By Paula Mitchells
British actor and honorary Oscar winner Peter O'Toole, who starred in classic films such as "Lawrence of Arabia," announced on Tuesday he is retiring from acting.
O'Toole, the eight-time Oscar nominee and honorary Oscar winner is retiring from film and theater at the age of 79.
"It is time for me to chuck in the sponge. To retire from films and stage. The heart for it has gone out of me: it won't come back," O'Toole, who is 79 and lives in London, said in a statement.
O'Toole said he is now spending his time working on the third volume of his memoirs. The film website imdb.com listed O'Toole as co-starring in the upcoming British film "Katherine of Alexandria."
Among actors, he holds the record for Oscar futility, never winning on any of his eight nominations. Although he did receive an honorary Oscar in 2003.
O'Toole turns 80 on August 2.
