It's official, Eddie Murphy will host the 84th Academy Awards, which will be broadcast by ABC on Feb. 26.  Murphy will replace actor James Franco, who hosted the awards show last year, as the Oscars return to it's roots of having a comedian host the show.

Things moved quickly after Oscar producer Brett Ratner, who is working with Eddie right now on a new movie, asked the 'Beverly Hills Cop' actor if he would consider hosting the show, Eddie said yes and the deal was finalized in just a few days.