Jon Stewart by Frank Ockenfels/Comedy Central
Despite having participated in the lowest-rated Oscars telecast of the past three years when he hosted in 2006, Daily Show anchor Jon Stewart has been asked back to oversee the ceremony when it airs Feb. 24, 2008, on ABC. "I am thrilled to be asked to host the Academy Awards for the second time," Stewart says in a statement, "because, as they say, the third time's a charm."

As previously reported, the 80th Annual Academy Awards will be produced by Gil Cates, who amid his 14 turns at the helm was on hand when Stewart braved his first, Brokeback-tastic hosting gig.