Leonardo Dicaprio has dropped out of 'The Deep Blue Good-By'.

The 'Great Gatsby' actor was set to star in the forthcoming film but due to his hefty workload he's been forced to step down, reports deadline.com.

The 39-year-old hunk and his Appian Way partner Jennifer Davisson-Killoran are producing, with Amy Robinson and Chernin Entertainment.

James Mangold is in talks to direct the film which is based on the 1964 John D. MacDonald novel - the first of a 21-volume novel series - which follow bachelor of Travis McGee, a man of principle.

'Mystic River' author Dennis Lehane wrote the most recent draft of the screenplay, while Dana Stevens and Kario Salem penned previous editions.

The Hollywood legend last hit the the big screen in 'The Wolf of Wall Street' where he plays corrupt stockbroker Jordan Belfort.

He lost out on an Academy Awards for Best Actor to Matthew Mcconaughey, who was applauded for his part in 'Dallas Buyers Club', at Sunday's (02.03.14) ceremony in Hollywood.