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Daniel Day-Lewis arrives for the 2013 Vanity Fair Oscar Party hosted by Graydon Carter at Sunset Tower on February 24, 2013.
Larry Busacca/VF13—Getty Images for Vanity Fair

Daniel Day-Lewis announced on Tuesday that he is retiring from acting, according to a report from Variety.

The renowned actor will step down from the profession at the age of 60 following decades of lauded performances, three of which earned him Oscars for Best Actor. His final film, set to hit theaters on December 25, will be Phantom Thread, for which he reunites with There Will Be Blood director Paul Thomas Anderson for a story about the 1950s fashion industry in London.

The news of Day-Lewis’ retirement inspired a trove of good-natured jokes online. Some poked fun at his well-known dedication to method acting, while others quipped that the announcement is just a way for him to clean up more acting awards.

Others suspected that Day-Lewis might pursue political ambitions.

And as Billy Eichner put it, the news of Day-Lewis’ retirement at least removes some heavy competition for his peers.

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Write to Mahita Gajanan at mahita.gajanan@time.com.

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