Eddie Murphy has been confirmed as the host of the 84th Annual Academy Awards.

The ‘Nutty Professor’ star was reported to be in talks for the role this weekend, with a number of sources confirming that Academy Award producers Brett Ratner and Don Mischer were fighting to secure Murphy as the host.

The actor and comedian has now officially agreed to host the prestigious award ceremony.

In a statement, murphy said: “I am enormously honored to join the great list of past Academy Award hosts from Hope and Carson to Crystal, Martin and Goldberg… 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.”

This will be Murphy’s fist hosting gig since the 1993 MTV Movie Awards.

Commenting on Murphy, Brett Ratner said: “Eddie is a comedic genius, one of the greatest and most influential live performers ever. I know he will bring excitement, spontaneity and tremendous heart.”

Murphy recently finished working with Ratner in comedy movie ‘Tower Heist’. Due for release on November 4, 2011 the movie is loosely based on the Bernie Madoff scandal.

Murphy was acknowledged by the academy in 2007 after being nominated for Best Supporting Actor for his role as James ‘Thunder’ Early in 2006 movie, ‘Dreamgirls’.

Last year’s Academy Awards were hosted by Actor and Actress James Franco and Anne Hathaway.

The 84th Academy Awards are due to take place on Sunday, February 26 2012 at the Kodak Theatre in Hollywood, California. The Ceremony will also be broadcast live on ABC.

Watch the ‘Tower Heist’ movie trailer, starring Ben Stiller and Eddie Murphy, below: