David Hasselhoff expressed disappointment that he would not be in the running for the Dundee job, saying he was flattered to be nominated.
The star has contacted officials at the Tayside university to inform them that his work commitments would prevent him from honouring the position.
Meanwhile, the race to become rector of Glasgow University is hotting up with two stars of BBC's Chewin' the Fat in pole position.
Greg Hemphill and Karen Dunbar from the hit comedy show are vying with Norman Blake from Glasgow's Teenage Fanclub, Stuart Murdoch of Belle and Sebastian and author Alasdair Gray.
David Hasselhoff expressed disappointment that he would not be in the running for the Dundee job, saying he was flattered to be nominated.
A Dundee university spokeswoman said: "He told university officials in a fax that he would only be able to visit the university once a year, which he realised was not enough to honour the duties of rector.
"He expressed an interest however in coming to speak to the students at some point in the future."
Hasselhoff made his name as Michael Knight in the hit series Knight Rider in the 1980s and then in the 1990s as the lead role in Baywatch.
He now divides his time between acting and furthering a career as a singer.
His withdrawal from the race leaves four others: comedian Fred McAulay, TV presenter Richard Whiteley, Conservative MSP Nick Johnston and Stirling University lecturer Dr Abd-al-El-Awaisi, are all line for the job.
EastEnders star resigned
Dundee University Students' Association president Dave Cunningham said: "This race will see the election of a committed rector who will visit the campus often and represent the needs and views of the students.
"David Hasselhoff's decision to withdraw because he could not honour the substantial commitment is an encouragement to all the students to elect a rector who can effectively represent them."
Previous Glasgow rector - EastEnders star Ross Kemp - resigned last year after a motion of no confidence being passed by the Students' Representative Council (SRC).
In a letter to the SRC he blamed "work pressures" for being unable to fulfil his obligations.