The 63-year-old comedian and Oscar-hosting veteran said Thursday on Twitter that he is "doing the Oscars so the young woman in the pharmacy will stop asking my name when I pick up my prescriptions."
Academy officials confirmed the appointment but had no further comment.
Crystal last hosted the show in 2004.
This will be his ninth stint as Oscar host and follows a groundswell of sentiment for his return following a guest appearance on the Oscar show this past February for which he received a standing ovation.
Eddie Murphy had been chosen to host the Feb. 26, 2012, show, but pulled out Wednesday following the departure of producer and friend Brett Ratner over an anti-gay slur.