Jon Favreau will not direct 'Iron Man 3'.

The actor-and-filmmaker - who directed the first two instalments of the Marvel comic book-adaptation starring Robert Downey Jr. in 2008 and 2010 - will not be returning to the franchise for the third film and instead focus his attention on forthcoming movie 'Magic Kingdom'.

Writing on twitter, he said: "It's true. I'm directing 'Magic Kingdom', not 'Iron Man 3'. I've had a great run with Marvel and wish them the best."

Explaining his decision further, the 44-year-old Favreau said he was keen to work on something that didn't come with such expectations.

He told the Los Angeles Times Hero Complex blog: "I want to blow people away, which is easier to do something with a project that isn't loaded with built-in expectations."

Favreau has previously hinted he wouldn't be involved with the third project because he wasn't sure about the direction it would be taking.

He said: "In theory, 'Iron Man 3' is going to be a sequel or continuation of 'Thor', 'Hulk', 'Captain America' and 'Avengers'. This whole world, I have no idea what it is. I don't think they do either, from conversations I've had with those guys."