First there was speculation, and now there is confirmation. Eddie Murphy will indeed be hosting the 2012 Oscars. Oscar producers Brett Ratner and Don Mischer made the official announcement today.

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 [Mischer] and I want to produce in February.

Eddie Murphy also released a statement

I am enormously honored to join the great list of past Academy Award hosts from Hope and Carson to Crystal, Martin and Goldberg, among others.  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 as we all come together to celebrate and recognize the great film contributions and collaborations from the past year.

Hopefully we get more of Beverly Hills Cop Eddie than Dr. Dolittle Eddie. Just sayin.