AceShowbiz -

Veteran actor Paul Newman is quitting Hollywood.

The Oscar-winning actor, who turned 82 in January, has announced during an interview on Good Morning America Thursday May 24th he would not make more films, claiming he's too old for that.

"I'm not able to work anymore as an actor at the level I would want to," Newman said. "You start to lose your memory, your confidence, your invention. So that's pretty much a closed book for me, I've been doing it for 50 years. That's enough."

Feeling grateful for the other things that have come into his life, Newman is planning to focus on the Dressing Room, the organic restaurant he opened in Westport, Connecticut, to help support local and regional farmers by utilizing homegrown ingredients and sponsoring a weekly farmers market, and on his Hole in the Wall Gang no-fee camps for children with life-threatening illnesses.

Newman, who won an Oscar for his leading role in 1986's "The Color of Money," was last heard as the voice of Doc Hudson in the 2006 animated feature "Cars."