Streisand has sung on the Oscars only once before, on March 28, 1977, when she performed the theme from "A Star Is Born"; that evening she won the Best Original Song Oscar for “Evergreen."

"In an evening that celebrates the artistry of movies and music," producers Craig Zadan and Neil Meron said in a statement, "how could the telecast be complete without Barbra Streisand? We are honored that she has agreed to do a very special performance on this year's Oscars, her first time singing on the show in 36 years."

Streisand won her first Oscar for Best Actress in “Funny Girl” (1968) and was nominated again in 1973 for her lead performance in “The Way We Were.” She was also nominated for producing the Best Picture nominee “The Prince of Tides” (1991), which she also directed, and for co-writing the original song “I Finally Found Someone” from “The Mirror Has Two Faces” (1996).

As previously reported, the evening will include a special celebration of movie musicals from the last decade, highlighting "Chicago," "Dreamgirls" and "Les Miserables."

Oscars for outstanding film achievements of 2012 will be presented Feb. 24 at the Dolby Theatre at Hollywood & Highland Center. Seth MacFarlane will host the event, which will be broadcast live on the ABC Television Network.

The Oscar presentation will also be televised live in more than 225 countries worldwide.

For more information visit www.oscars.org.