The Academy of Motion Picture Arts & Sciences announced Wednesday that Stewart will host the 80th awards show Feb. 24 at the Kodak Theatre in Hollywood.
Oscar telecast producer Gil Cates describes Stewart as smart, quick and funny. He says Stewart loves movies and is a great guy.
Stewart jokes that he is thrilled to be asked for a second time, because the third time is a charm.
Stewart hosts "The Daily Show with Jon Stewart" on Comedy Central.
He hosted the Grammy Awards in 2001 and 2002.