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.
"Pro: I get to perform in front of 60 million people. Con: Oh my god, 60 million people watch that thing."
"Pro: I'll be invited to all the cool Oscar after parties. Con: I like to be tucked in by 7:30."
"Pro: A lot of fancy designers will approach me to wear beautiful, expensive gowns. Con: Ain't no way in hell I'm wearing a gown."
"Pro: The theatre holds 3,000 seats. Con: It's gonna take 45 minutes to dance through all those aisles."
The Oscars will air Sunday, March 2, 2014, on ABC.