JACK Nicholson is not suffering from memory loss and has no plans to quit acting, according to a new report.

Rumours circulated Wednesday that the Oscar-winner was retiring from acting at the age of 76 due to a memory-related illness.

NBC reporter Maria Shriver has now confirmed to E! News the claims are "100 per cent false".

The veteran journalist reportedly told the outlet Nicholson "is not suffering from any memory-related illness or dementia and has no current plans to retire".

To the contrary, the star is said to be "actively" reading scripts and has plans to appear on the big screen once again.

Earlier reports stated that The Shining star has no plans to appear on screen in the future.

"Jack has - without fanfare - retired," a source told entertainment site RadarOnline.com.

"There is a simple reason behind his decision - it's memory loss. Quite frankly, at 76, Jack has memory issues and can no longer remember the lines being asked of him. His memory isn’t what it used to be", the source told.

Nicholson's last film release was in 2010's How Do You Know, starring Reese Witherspoon, Paul Rudd and Owen Wilson.

A forthcoming film, Nebraska, will star the producers' second-choice Bruce Dern, after Nicholson turned down the role as an aging, hard drinking father who makes a road trip with his estranged son in order to claim a million dollar sweepstakes prize.

Nicholson's Hollywood acting career was launched with a low-budget teen drama The Cry Baby Killer, in 1958. Celebrated roles include his Oscar-winning turns in One Flew Over the Cuckoo's Nest and As Good As It Gets.

Nicholson has been nominated for a record-setting 12 Oscars, eight for Best Actor and four for Best Supporting Actor, making him the most nominated male actor in Academy Awards history.