I'm still praying this is not true.

I thought he was contractually obligated to do at least one or two more films, but he was able to buy himself out of the contract and was considering it. I know he made a few off-color comments about returning when promoting
Spectre, but honestly, now that he's had the role, I can't see anyone else doing this. I'm going to be very disappointed if this is true. Although it shouldn't come as a surprise, especially because the last film ended in a way where they could continue it if they wanted to but end it if he decided he was done.