The action star took over hosting duties for Donald Trump, only to later find out that the president stayed on as executive producer.
Arnold Schwarzenegger has terminated his relationship with The New Celebrity Apprentice.
In a statement to ET on Friday, the former California governor says he "loved every second" of his time hosting the show, but said he will not be returning because of the series' "baggage."
"I loved every second of working with NBC and Mark Burnett," Schwarzenegger said. "Everyone - from the celebrities to the crew to the marketing department - was a straight 10, and I would absolutely work with all of them again on a show that doesn't have this baggage."
NBC has not announced another cycle of the series at this point, and has no comment in response to Schwarzenegger's remarks.
Schwarzenegger took over as host of the reality competition series after Donald Trump left the show in 2015 to campaign for President of the United States. It was later revealed, however, that Trump stayed on as executive producer.
Things first seemed friendly between the two -- Schwarzenegger told ET in November that for Trump, "it's great to go from this to politics," -- but quickly soured as the newly elected president publicly blamed Schwarzenegger for The New Celebrity Apprentice's less than stellar ratings.
At last month's National Prayer Breakfast, Trump mocked the series' declining ratings, asking the crowd to "pray for Arnold." Schwarzenegger didn't take the jab lightly.
"Hey Donald, I have a great idea. Why don't we switch jobs?" Schwarzenegger said on Twitter. "You take over TV because you're such an expert on ratings and I take over your job and then people can finally sleep comfortably again."
In October, Austrian-born Schwarzenegger revealed that he would've run for president had he been eligible.
"If I'd been born in America, I would've run," he told Adweek. "Because now? This was a very good time to get in the race."
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