"I am happy to co-host the Oscars with my enemy Alec Baldwin," Martin said jokingly in a statement.
Alec also expressed excitement for the star-studded gig.
"I don't play the banjo but I'm thrilled to be hosting the Oscars," he said. "It's the opportunity of a lifetime."
Martin hosted the 73rd and 75th Academy Awards, while this will be Baldwin's first-time hosting job.
"We think the team of Steve and Alec are the perfect pair of hosts for the Oscars,” said telecast producers Adam Shankman and Bill Mechanic. "Steve will bring the experience of having hosted the show in the past and Alec will be a completely fresh personality for this event."






Steve Martin and Alec Baldwin are co-hosting this year's Academy Awards. Who do you think will be more entertaining?
Alec Baldwin! Have you seen "30 Rock"? Genius!
Neither...I am not the biggest fan of these guys! Bring back Hugh Jackman!
Steve Martin! I have a feeling he'll bring his banjo!
Comments (4)