The director has revealed that he will step down after the follow-up to Dark of the Moon.
Discussing the new Universal Studios Transformers ride, Bay told the Los Angeles Times that he would leave later sequels "for the next guy".
He also revealed that he was planning to redesign the robot stars and to hire a completely new cast for the fourth Transformers film.
Rosie Huntington-Whiteley is not believed to be returning to the series, while Shia LaBeouf has said that he feels he has "nothing new to contribute" to future Transformers films.
Bay himself was believed to be originally reluctant to return for the next movie.
He is currently in post-production on his passion project Pain and Gain.
The next Transformers movie has been pencilled in for release on June 29, 2014.
Watch Digital Spy's interview with Michael Bay and Transformers: Dark of the Moon star Rosie Huntington-Whiteley below: