The actor and comedian will be carrying out the role for the first time at the ceremony, which takes place at the Kodak Theatre in LA on 26 February.The last comic to host the show alone was Jon Stewart in 2008
In a statement Eddie Murphy said he was "enormously honoured" to join the ranks of Oscar hosts like Hugh Jackman in 2009 and Chris Rock in 2005.
One of the Oscar telecast producers, Brett Ratner, also directed Murphy's latest film, Tower Heist.
He said: "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."
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