The ceremony’s producers have revealed that the comedian-turned-filmmaker will be at the helm of the awards on 28 February.
David Hill and Reginald Hudlin called 50-year-old Rock “the MVP of the entertainment industry”.
The stand-up, who is the only non-white Oscar host to helm the show in the past decade, tweeted: “Look who’s back”, with a photo of him holding an Academy Award.
Rock was generally well received when he hosted in 2005, despite his jibes about the film industry and actors such as Tobey Maguire, Colin Farrell and Jude Law.
His dig at Law famously caused Sean Penn, who was presenting a prize, to leap to the British actor’s defence.
Rock has won four Emmy Awards for his comedy series and specials and recently directed the comedy special Amy Schumer.
In 2014, he wrote, directed and starred in the feature Top Five, and in 2009 produced, wrote and starred in the documentary Good Hair.
He was a cast member on Saturday Night Live from 1990 to 1993.