The Academy of Motion Picture Arts and Sciences announced this week that Eddie Murphy will be hosting the next Academy Awards ceremony, which will be held on Sunday, February 26, 2012.

"I’m looking forward to working with [producers] Brett and Don on creating a show that is enjoyable for both the fans at home and for the audience at the Kodak Theatre as we all come together to celebrate and recognize the great film contributions and collaborations from the past year," said Murphy.

Murphy got his big-screen debut starring with Nick Nolte in 48 Hours, and has been involved in quite a few hits, including the Beverly Hills Cop series, the Shrek franchise, and he came very close to getting an Academy Award of his own for his work in Dreamgirls. Unfortunately, he's also been responsible for some big-screen disasters, including Norbit, which probably sank his chances for that gold statue.

Coming off the poor reviews that 2011 co-hosts Anne Hathaway and James Franco received (especially Franco, who paled in comparison to Hathaway), the Academy is betting a lot on Murphy. That's a gamble that perhaps more than a few people will tune in to the broadcast in February to see how it turns out.

What do you think?

Can Eddie Murphy make everyone forget about James Franco, or will he leave everyone wishing that the Academy would drop off a truckload of cash on Billy Crystal's driveway in exchange for a lifetime hosting contract?

Leave your comments below!