Jeff Dunham scored the most-watched series premiere in Comedy Central history, but his "The Jeff Dunham Show" won't return for a second season.

Following Dunham's record-breaking October series debut that drew 5.3 million viewers, the puppet master's audience dropped 55% for episode two. His December episodes drew between 1.3 and 1.8 million viewers.

Asked whether "Jeff Dunham" has been canceled, a Comedy Central spokesperson said, "We have no plans to renew the series at this time."

Even near the end of his run, Dunham still earned a higher average rating than fellow Comedy Central series newcomer Daniel Tosh, whose series "Tosh.0" scored a 25-episode second season renewal. The difference is the cost of production -- and to some degree, critical reception.

Dunham's series was part of a larger overall deal with Comedy Central, so the cable channel continues to be in business with the ventriloquist who is one of the highest-grossing standups in the country.

Under Dunham's pact with the Comedy Central, he will topline another special for the network targeted for fall 2010, following his blockbuster 2008 special seen by 6.6 million viewers, as well as a tour, a DVD and consumer products release.