Stewart, the host of US television's "The Daily Show," presented the gala ceremony in 2006, most memorably with a montage about gay cowboys themed on "Brokeback Mountain," one of the favorites for best picture that year.
The Academy of Motion Picture Arts and Sciences, the official name of the body that awards the Oscars, was expected to make an announcement later Wednesday, the Times reported, quoting two unnamed sources.
The 80th annual awards ceremony is due to be held in Hollywood on February 24, when around half the states will have put forward their choice of party candidates for the November presidential election.

Copyright AFP (Agence France-Presse), 2007