Leonardo DiCaprio missed out on starring in TV hit Baywatch after losing the role to Jeremy Jackson, according to David Hasselhoff.

The Titanic star has long been rumoured to have auditioned to play Mitch Buchannon's son Hobie on the popular series, but Jackson was cast instead.

Hasselhoff has now confirmed the speculation, but insists DiCaprio would not have gone on to become one of Hollywood's biggest stars had he appeared on the beach series.

When asked about DiCaprio's Baywatch tryout, Hasselhoff tells Movieline, "Yeah, it was true! You know what, it was the best thing to happen to Leonardo DiCaprio.

"I saw Leonardo DiCaprio and I said, 'You know what, that was the best thing that ever happened to you!

"You would have never gotten Titanic and have been this big star. You'd be like Jeremy Jackson and David Hasselhoff, looking for work.' Ha!"