When asked who he would consider the love of his life, Reynolds quipped to Kotb, "You're naughty, you really are. I'm dead in the water no matter what I say."
He then revealed that it was Sally Field -- his co-star in the 1977 film Smokey and the Bandit and whom he dated for five years after the two met on the movie -- that had his heart.
"I would say Sally," he confessed. "Yeah, Sally Field. She was, well, she is still... I wanted her really bad for Smokey and they said, 'Well, she's not sexy.' And I said, 'You don't get it, talent is sexy.' And she's got that."
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"I miss her terribly," he said. "Even now, it's hard on me. I don't know why I was so stupid. Men are like that, you know. You find the perfect person, and then you do everything you can to screw it up."
Reynolds returns the big screen when The Last Movie Star, which also stars Ariel Winter, hits theaters on March 30.