Last week, the Hollywood actor said he would be joining his wife Jada Pinkett-Smith and director Spike Lee in not attending the event next month.
He told GMB the boycott had nothing to do with him not being nominated, but was instead about the message it sends:
The 47-year-old Concussion star added: "We have to understand the spirit of what's happening.
"This is not about 'us' and 'them', it's about 'we'.
"I for one want to be part of making the adjustment, I want to be a part of the solution."
The Oscars will be hosted by Chris Rock, who has come under pressure to pull out of the event.