Monty Python have turned down a $32 million offer to do a world tour that would have included Australian dates, a London newspaper has reported.

According to the Sunday Mirror, the iconic comedy group were approached by promoters offering a multi-million-dollar contract to perform in Australasia, the Far East, South Africa and America.

Michael Palin, Terry Gilliam, Eric Idle, John Cleese and Terry Jones on stage during the opening night of Monty Python Live (Mostly). Credit:Getty Images

It would have been an extension of their 10-night Monty Python Live (Mostly) show at London's O2 arena in July.

However they declined, saying they didn't care about the money and didn't like the idea of a big world tour.