Eddie Murphy: Oscar's New Host

Oscar, meet your new host: Eddie Murphy. ET confirms that the veteran funnyman will host the 84th annual Academy Awards, scheduled to air Sunday, February 26, 2012.

The choice is a natural one, as the coming Oscar telecast is being produced by Don Mischer and director Brett Ratner, who teamed up with Murphy for their upcoming caper comedy, Tower Heist, hitting theaters November 4, 2011.

"I am enormously honored to join the great list of past Academy Award hosts from Hope and Carson to Crystal, Martin and Goldberg, among others," says Murphy. "I'm looking forward to working with Brett and Don on creating a show that is enjoyable for both the fans at home and for the audience at the Kodak Theatre as we all come together to celebrate and recognize the great film contributions and collaborations from the past year."

MORE: Eddie Murphy & Ben Stiller Plot 'Tower Heist'

Murphy was nominated for Best Supporting Actor in 2007 for his role in Dreamgirls, and don't forget that he performed on live television for a nationwide audience for years on Saturday Night Live.

The 84th annual Academy Awards will once again be televised live on ABC.