Oscar producers have announced that Eddie Murphy will host the Oscars next year. Murphy was rumored to be among the short list of potential hosts for the show and has received an Oscar nomination for his supporting role in the 2006 film Dreamgirls. The Academy Awards will air live from the Kodak Theater on Sunday, February 26th, 2012 on ABC.Eddie Murphy released the following statement:

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.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

James Franco and Anne Hathaway hosted last years Oscars.