Stand-up comedian and actor Eddie Murphy has been announced as the Oscar host for 2012, which will take place at the Kodak Theatre in LA on 26 February.

Before the announcement itself, there were rumors that hinted on the fact that Eddie will be the host, given his good relations with Brett Ratner, one of the telecast producers for Oscars and the director of Eddie's latest film Tower Heist.

Eddie is a comedic genius, one of the greatest and most influential live performers ever. With his love of movies, history of crafting unforgettable characters and his iconic performances, especially on stage, I know he will bring excitement, spontaneity and tremendous heart to the show Don and I want to produce in February, Ratner said.

Eddie Murphy is well known for his appearance in movies like Norbit, Meet Dave, Nutty Professor, Doctor Dolittle, Beverly Hills Cop and his voice in Shrek for the donkey.

A Saturday Night Live veteran and an energetic comedian, Murphy sure is the best choice as the host for the Oscar, given his unmatched talent and devoted audience of various age groups.

The last comedian to host the Oscar alone was Jon Stewart in 2008.

Don Mischer, Oscar co-producer said in a statement that Eddie Murphy was enormously honoured to join the ranks of Oscar hosts like Hugh Jackman in 2009 and Chris Rock in 2005, according to a report in BBC.

The Oscar Hosts for the last 5 years were,

James Franco/Anne Hathaway (2011)

Alec Baldwin/Steve Martin (2010)

Hugh Jackman (2009)

Jon Stewart (2008)

Ellen DeGeneres (2007)

Don Mischer said, that unlike last two years, having a single host again will streamline the show, which sometimes lasts more than three hours, the report said.