The 50-year-old comedian is in talks to take the reins of the ceremony 11 years after hosting the 77th Oscars in 2005, reported Variety.
Producers Reginald Hudlin and David Hill have had Rock down as a favourite for weeks, according to Academy insiders, and Hudlin has a history with the comic - they teamed up for the TV sitcom "Everybody Hates Chris", which centred on Rock's upbringing.
Hudlin directed the show's pilot.
During Rock's one and only Oscars hosting gig, he drew heat from Sean Penn after making a joke at Jude Law's expense early in the evening.
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