"He also has style, elegance and a sense of occasion," Mark and Condon said in a joint statement. "Hugh is the ideal choice to host a celebration of the year's movies — and to have fun doing it."
Jackman, recently named People magazine's "Sexiest Man Alive," won an Emmy in 2005 for hosting the 59th annual Tony Awards in 2004. He also took home a best-actor Tony that year for his performance in the musical "The Boy From Oz."
Perhaps best known as Wolverine in the "X-Men" movie franchise, Jackman recently starred in Baz Luhrmann's romantic adventure film "Australia" with Nicole Kidman. He was out of the country Friday for a promotional tour for the film and wasn't immediately available for comment, his representative, Alan Nierob, said.
Jackman has never been an Oscar nominee, but was nominated for a Golden Globe for his role in 2001's romantic film "Kate & Leopold." His other movie credits include 2006's "The Prestige" and 2004's "Van Helsing." Jackman also served as a past presenter on the Oscar show.
With new producers, a new set director and even a new music director, the Academy has been hinting at an all-new look and feel for this year's Oscars telecast on Feb. 22.
Jackman's selection is a departure from the Academy's standard of big-name comedians. Jon Stewart hosted the ceremony in 2008 and 2006; Ellen DeGeneres was the 2007 host. Chris Rock, Steve Martin, Billy Crystal and Whoopi Goldberg have also hosted the show in recent years.