This will mark Crystal's ninth hosting duty for the Academy Awards after he last hosted the prestigious show in 2004.
Billy Crystal will replace Eddie Murphy as the host for the 2012 Academy Awards. On Thursday afternoon, November 10, a day after Murphy resigned from his hosting duty for the Oscars, Crystal took to his Twitter to announce the news.
The 63-year-old comedian and veteran Oscar host wrote, "Am doing the Oscars so the young woman in the pharmacy will stop asking my name when I pick up my prescriptions. Looking forward to the show."
Tom Sherak, the Academy of Motion Picture Arts and Sciences, also confirmed the news in an official statement. "I'm thrilled to welcome Billy back to the Oscar stage. He's a comic legend and Oscar icon, and it feels good to have him back where he belongs," said Sherak.
This is going to be Crystal's ninth hosting duty for the Academy Awards. The actor, who lent his voice to Mike Car in 2006's animated hit movie "Cars", last hosted the prestigious prize giving event in 2004.
"Some of the best moments of my career have happened on the Oscar stage," Billy claimed in his statement. "I am thrilled to be back there. Actually, I am doing this so that the young woman in my pharmacy will stop asking me my name when I pick up my prescriptions."
Newly tapped producer Brian Grazer also said, "Like so many others, I've been eager to see Billy host again." He went on gushing, "It's very gratifying that he agreed to do it with Don [Mischer] and me at the helm."
Grazer's producing partner Don Mischer chimed in, "With Billy, we're moving forward with one of the greatest hosts in Oscar history." He then praised Crystal by saying, "His return to the Oscars is, in a sense, a celebration."
Before Crystal was tapped to serve as the host, Murphy was the one who was chosen to tackle the duty. However, the 50-year-old comedian decided to bail out of the show following the resignation of Brett Ratner from his producing duty after making a controversial gay slur.
The 84th Academy Awards will be presented on Sunday, February 26, 2012, at the Kodak Theatre at Hollywood & Highland Center. The ceremony will be televised live by the ABC Television Network in more than 200 countries worldwide.