James Franco and Anne Hathaway will be running the show at the next Academy Awards.
Oscar organisers said that the Hollywood A-listers will be co-hosts of the 83rd ceremony on February 27.
The announcement creates the prospect that one or both hosts might also be nominees. James is considered a solid best actor prospect for the survival drama 127 Hours, while Anne has a chance for a best actress slot for the romance Love And Other Drugs.
This is the second straight year the Oscars has had a pair of actors as hosts. Steve Martin and Alec Baldwin teamed up as hosts last time.
The move also continues the show's departure from the traditional comedian as host, such as past masters of ceremonies Billy Crystal or David Letterman.
Outside the Gotham Independent Film Awards in New York, where she was presenting an award, Anne said she couldn't yet discuss her Oscar night duties. "I can probably let it slip that I'm terrified and exhilarated and excited," she said.
The actress has already shown off her musical talents in a duet at the 2008 Oscars with the show's host, Hugh Jackman. Oscar chiefs are as yet uncertain whether James can sing.
"There's a rumour that he can, and we will be exploring that," said one of the show's producers Bruce Cohen.
"What we do know is they both have a great sense of humour and a great sense of comedy," co-producer Don Mischer added.