Crystal will make his debut as Oscar host on March 26 at the Dorothy Chandler Pavilion. The show marks his third appearance on the program.
"We are extremely pleased to have Billy host the show," said Gilbert Cates, producer of the the 1990 telecast. "His unique talents and his ability to handle the unexpected will be important assets this year."
The single-host format returns after the disastrous 1989 multihost show, which featured Rob Lowe and an unauthorized Snow White impersonator.
Award nominees will be announced Feb. 14 at the Pavilion. "When Harry Met Sally . . . ," the romantic comedy in which Crystal co-starred, is a possible Oscar nominee.