Now that would be a show!
So, when will we know for sure if the funnyman got the gig?
It could be as early as this week.
Although no names have officially been submitted to the Academy of Motion Pictures Arts and Sciences just yet, a decision could be made Tuesday when Oscar producers Brett Ratner and Don Mischer meet up with the Academy's president, Tom Sherak.
According to Deadline.com, Ratner has had Murphy's name in mind for some time as a candidate for the coveted hosting gig.
And with good reason.
Aside from Murphy's notable comedic background and stand-up career, we hear Ratner and the Shrek star struck up quite the friendship when Ratner directed Murphy's upcoming Tower Heist action flick with Ben Stiller, in theaters Nov. 4.
Murphy isn't the only comic actor in the running to host the Oscars, however. (And no, we're not looking at you, James Franco.) Billy Crystal, who's expressed interest in hosting the show again, is also reportedly being considered for the position.