The trio of film star funny women will emcee the 94th Academy Awards at Hollywood's Dolby Theatre on 27 March.
For the past three years, the ceremony has had no official overall host.
"We want people to get ready to have a good time. It's been a while," said Hall, Schumer and Sykes in a statement published on the Oscars website.
Appearing on Good Morning America just after the announcement, Primetime Emmy-winning comedian Schumer joked: "I'm not sure who thought this was a good idea but I am hosting the Oscars, along with my good friend Wanda Sykes and Regina Hall.