Sources say the former athlete, who was recently stripped of his Tour de France title due to doping allegation, is among several high-profile 'big get' celebrities who are regularly asked to join the show, reported Aceshowbiz.
Confirming his refusal, his representative stated, "Lance has been offered the show each and every year since its inception. Although flattered he has passed on their generous offers."
Armstrong isn't the only one who turned down a spot on "DWTS". Lindsay Lohan was recently reported to have rejected a USD 550,000 offer from the dancing competition.
Armstrong grabbed the headlines in the past few weeks with his "no-holds-barred interview" with TV mogul Oprah Winfrey.
During the chat, he addressed his doping scandal, admitting that he used EPO, testosterone and HGH to enhance his performance during the race.