After hinting at a possible retirement following a postseason loss in May, NBA superstar LeBron James has announced he will be returning for another year of play -- his 21st NBA season.

The league's all-time leading scorer revealed his plans while onstage at the ESPY Awards on Wednesday.

"I don't care how many more points I score or what I can or can't do on the floor," James said. "The real question for me is: Can I play without cheating this game? The day that I can't give the game everything on the floor is the day I'll be done. Lucky for you guys, the day is not today."

The crowd in attendance at the Dolby Theater in Los Angeles then erupted in massive cheers.

James hinted at a possible retirement following the Lakers' loss to the Denver Nuggets in last season's Western Conference Finals, telling reporters he had "a lot to think about" regarding his future in the league.

James has repeatedly said he hoped to one day play in the NBA alongside his oldest son, Bronny James, who is committed to play college basketball at the University of Southern California. James would be eligible to enter the NBA Draft in 2024, the year his father turns 40.

"And you know what brings me back every year is watching and coaching my boys and their teammates," James said Wednesday. "I see those kids, and it brings me right back to why I play. Those kids get me back to where I need to be -- just the pure love of this beautiful game. So yeah, I still got something left. A lot left."

The 38-year-old received the ESPY's Best Record-Breaking Performance award for surpassing Kareem Abdul-Jabbar last season to become the NBA scoring leader.