The idea of his fourth three-peat must have been too much for Phil Jackson to pass up.

The Los Angeles Lakers coach told the team Thursday that he will return for his 11th season on the bench in L.A. and an even 20th to cap his NBA coaching career.

“Count me in,” Jackson said in a statement. “After a couple weeks of deliberation, it is time to get back to the challenge of putting together a team that can defend its title in the 2010-11 season. It’ll be the last stand for me, and I hope a grand one.”

Jackson, who turns 65 in September, is a member of the Hall of Fame who has led the Lakers and Chicago Bulls to 11 championships, the most of any coach. The Lakers have won the last two after winning three in a row from 2000 to ‘02. The Michael Jordan-led Bulls won titles in 1991-93 and 1996-98 with Jackson at the helm.

“We’re extremely pleased that Phil has decided to return,” Lakers general manager Mitch Kupchak said. “With this most recent championship, we’ve now won five titles in the 10 years he’s been our head coach and have been to the Finals in seven of those 10 years, which is amazing. He’s not only the best coach for this team, but quite simply the best coach in the history of the NBA.”

Multiple reports have stated Jackson will take a pay cut this season, but Jackson admitted, “It’s still a ridiculous salary, whatever it is,” when asked about the projected figure during the Western Conference finals in May.

Various members of the Lakers organization shared in Jackson’s joy.

“I’m happy, I’m glad,” said Craig Hodges, Lakers special assistant coach. “It’s a chance to make some history.”

Free agent Shannon Brown, in the midst of contract negotiations with the Lakers himself, said, “I’m excited and happy for him!!!” in a text message to ESPNLosAngeles.com.

Ron Artest posted a message to his Twitter feed that said, “Thank You Phil Love you man!!!!! Let’s get it LA.”

While Jackson is calling 2010-11 his “last stand,” he’s been known to bend the definition of the word “last” in the past. In 1997-98, he bonded the Bulls with the theme of looking at the season as the “Last Dance.” In October of 2004, Jackson released a book called “The Last Season,” in which he documented a turbulent ‘03-04 campaign with the Lakers that ended with a Finals loss to the Pistons, leading to a dismantling of the team and the second retirement of Jackson’s coaching career.

Dave McMenamin covers the Lakers for ESPNLosAngeles.com. Follow him on Twitter. Information from ESPNLosAngeles.com’s Ramona Shelburne contributed to this report.