Ladies, it's official: James Franco is back on the market!  This year's Oscar host recently broke up with actress Ahna O'Reilly, his girlfriend of five years.

Franco admitted the news in the August issue of Playboy, saying flat out, "It's over."  It seems like the actor's schedule just got a little too busy for the Forgetting Sarah Marshall actress. Franco is in the midst of earning several degrees, from schools like New York University, Columbia and Yale, plus, he still has his job as an actor, which he hasn't completely given up to work on his schooling.

James Franco & Ahna O'Reilly at Pineapple Express Premiere

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"We'd been living together in L.A. and then came to New York to go to school for two years," Franco explained. "Then I signed up for more school at Yale.  I think that was it for her."

Well, not only is the super hot Mr. Franco back on the market, but he's only getting smarter as he continues his schooling!  Who will be the lucky lady to nab him next?!  Or will the actor take a break from dating for a little while after ending such a long relationship?

Photos Courtesy Of: Pacific Coast News