The popular show returns for its eleventh run on October 8, with The Sun claiming that the comic turned down a £1 million payrise to sign on for more.
> Harry Hill's 'TV Burp' best moments - video
The 46-year-old previously admitted that working on the Bafta Award-winning show, which sees Hill poke fun at the week's TV, was a "drag", saying that the longer runs had left him feeling "completely mental".
Hill is said to be planning to focus on working on Simon Cowell's rumoured The X Factor musical, which he was linked to last week.
"Harry kept telling people how much he hated doing it but they thought he was joking. He wasn't," a source told the paper.
An ITV1 spokesperson said that another series would air in 2012, while production company Avalon responded: "Harry has a lot of commitments in the next year, but a final decision has not yet been reached."
Harry Hill's TV Burp returns to ITV1 on Saturday, October 8 at 7pm.
> Harry Hill: 'TV Burp was almost axed'
> Hill: 'BBC don't play along with TV Burp'
Watch Harry Hill mock Britney Spears's appearance on The X Factor below: