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The actor told reporters after his Oscar win that he wouldn't reprise his role as Rustin Cohle on the hit HBO drama.
Leading up to the announcement of Best Picture, The Academy also announces winners for Best Director as well as Best Original and Adapted Screenplays.
The awards nominees went all out with their fashion choice, but Lawrence marked the red carpet walk with a little incident.
'12 Years a Slave' became the day's big winner with five nods, followed by 'Dallas Buyers Club' and 'Nebraska' with two each.
From playing homophobic cowboy in 'Dallas Buyers Club', McConaughey will next tackle the role of an American man who lost all hope of life.
Represented by Bradley Cooper, the cast ensemble thanked their director David O. Russell for being the 'reason'.
As many as nine films are nominated for Best Picture, including 'Hustle' and 'Gravity' which nab a total of 10 nominations each.
McConaughey and Leto undergo extreme transformation for the AIDS drama movie, which will be released on November 1.
Reese plays Juniper, who is seen holding back tears after reading a letter from Matthew's Mud in the newly-released clip for the Jeff Nichols-directed film.
Hiding in a stranded boat in Mississippi, McConaughey's titular character is a fugitive who befriends two teenagers who help him reconnect with his lover.
The overjoyed couple reveals, 'Our son, Livingston Alves McConaughey was born at 7:43am on 12.28.12. He greeted the world at 9lbs. and 21 inches.'
Words are, Camila delivered her third child with the 'Magic Mike' actor at a hospital in Austin, Texas on December 28.
Kelly Clarkson premieres a breath-taking new video in support of her upcoming 'Greatest Hits' album out on November 19.
Kicking off filming in New Orleans on Sunday, November 11, the 'Magic Mike' actor was snapped looking shockingly skeletal after losing more than 30 lbs. for his role as an AIDS patient.
Trey sells 135,000 copies of his latest album, pushing last week's champion 2 Chainz from the penthouse of the chart to the runner-up place.