Michael Rozman/Warner Bros.
But on her talk show airing Wednesday, the TV talker admits there's actually both pros and cons when it comes to overseeing Hollywood's biggest night.
"The last time I hosted was in 2007 and it was fun. It was an honor," DeGeneres tells her studio audience before explaining how she came up with a list to determine if she should accept the gig again or not.
Here are just a few of the highlights read by DeGeneres off a piece of paper pulled from her right sock.