“For years I have been asked if I would ever host the Oscars and my answer was always the same … I said that it would be the opportunity of a lifetime for me as a comedian and that it will happen when it’s suppose to,” Hart wrote on his official Instagram page.
“I am so happy to say that the day has finally come for me to host the Oscars.
“I am blown away simply because this has been a goal on my list for a long time.
“To be able to join the legendary list of host that have graced that stage is unbelievable.
“I know my mom is smiling from ear to ear right now.”
“I will be sure to make this Oscars a special one.”
He will join fellow first-timers in all-important roles, with Academy Award winning producer Donna Gigliotti and director Glenn Weiss to oversee the show.
The last two Oscar shows were hosted by popular American talk show host Jimmy Kimmel, who was the only person to host the show in back to back years since Billy Crystal in 1997 and 1998.
But with declining ratings over the last couple of years, with a record low 26.5 million viewers in 2017, organisers have overhauled the program.
Aside from cutting the show’s broadcast down from three hours, the Academy of Motion Picture Arts and Sciences has announced not all the awards in the 24 categories will be revealed live.
Six to eight categories will be announced to the audience during ad breaks with edited excerpts from the acceptances to be aired later in the broadcast.