The daytime star will host the 2014 Academy Awards, the Academy announced on Friday.

“We are thrilled to have Ellen DeGeneres host the Oscars,” producers Craig Zadan and Neil Meron said in a statement. “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 also chimed in, saying, “I am so excited to be hosting the Oscars for the second time. You know what they say - the third time’s the charm.”

Ellen previously hosted the prestigious awards ceremony in 2007.