She announced the news via Twitter, writing, “It’s official: I’m hosting the #Oscars! I’d like to thank @TheAcademy, my wife Portia and, oh dear, there goes the orchestra.”
The Academy of Motion Picture Arts and Sciences also elected a new president on Tuesday, marketing executive Cheryl Boone Isaacs, who quickly secured DeGeneres as host. The funnywoman previously hosted in 2007.
Producers Neil Meron and Craig Zadan had already signed on to run the show again, after the ratings success of their first time at the helm last February with host Seth MacFarlane.
The 86th Annual Academy Awards will be presented March 2, 2014.