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Last Updated: Tuesday January 12 2010 14:15 GMT

Tobey Maguire's out of Spider-Man

Tobey Maguire

Spider-Man star Tobey Maguire is hanging up his superhero costume and says he WON'T be returning for the fourth film in the series.

The American actor said he was proud of what he'd achieved with the films so far and was looking forward to watching the next chapter unfold.

The new film is due to be released in 2012, with a new director and cast.

Sony Pictures and Marvel Studios said the film would focus on Spider-Man's Peter Parker alter-ego in high school.

Spider-Man 2
Tobey played the role of Spider-Man in the first three films of the series

More details about the film are expected to be released in the next few weeks.

The first three Spider-Man films were a huge success, making a staggering £1.4bn ($2.5bn) around the world.

Speaking about his time as Spider-Man, Tobey Maguire said: "Beyond the films themselves, I have formed some deep and lasting friendships.

"I am excited to see the next chapter unfold in this incredible story."