A few months back we speculated about who would be the best host for the 2014 Oscars and on our list was the one and only Ellen DeGeneres.

Well, good news! Ellen confirmed today, August 1st, that she will be hosting the Oscar ceremony for 2014.

Producers for the 86th Oscar ceremony, Craig Zadan and Neil Moron, announced the news today by press release, commenting: "We are thrilled to have Ellen DeGeneres host the Oscars. As a longtime friend, we had always hoped to find a project for us to do together and nothing could be more exciting than teaming up to do the Oscars. There are few stars today who have Ellen's gift for comedy, with her great warmth and humanity.

She is beloved everywhere and we expect that the audience at the Dolby Theatre, and in homes around the globe, will be as excited by this news as we are."

Ellen confirmed that she was delighted: "I am so excited to be hosting the Oscars for the second time. You know what they say - the third time's the charm."

She also took to her twitter account to thank the Academy for their support.

Ellen had previously hosted the show in 2007 and received a Primetime Emmy nomination for "Outstanding Individual Performance in a Variety of Music Program."

Given the fact that Seth MacFarlane didn't go down all too well last year, slightly jarring with their viewers, it was no surprise that the Academy decided to go with a safer option.