After rumors were swirling yesterday that Eddie Murphy would be named as the host for next year's Oscars telecast, confirmation has come today that the comedian will in fact emcee the prestigious film event.

Murphy joins a rather distinguished list of former hosts, including Billy Crystal, Richard Pryor, Carol Burnett, Jimmy Stewart, and John Huston, as well as fellow Saturday Night Live alums like Chris Rock and Chevy Chase. Last year's ceremony, which paired Anne Hathaway with James Franco, received abysmal reviews, though the technical aspects of the show received multiple Emmy nominations.

It's an interesting selection by producers, as Murphy's film career hasn't been as strong in recent years, Dreamgirls and voiceover work aside. However, as anyone who has seen any of Murphy's legendary stand-up specials or watched his magnetic screen presence time after time can attest, the man has charisma and can think on his feet. No word yet on who'll be writing the show or how much input Murphy will have, but I have a feeling the more involved he gets, the better the end product will be.

Murphy, whose TV credits include The PJs and Saturday Night Live, will be hosting the show for the first time; he picked up a nomination in 2006 for his role as Jimmy Early in Dreamgirls, eventually losing the award to Little Miss Sunshine's Alan Arkin. He can next be seen in this fall's Tower Heist (directed by Oscars producer Brett Ratner) and 2012's A Thousand Words.

The 84th annual Academy Awards will be held Sunday, February 26th, 2012 on ABC.