The 87th Oscars will air live on the ABC Television Network on February 22, 2015.
"We couldn't be more thrilled to have Craig and Neil back to produce the Oscars again in 2015. Their showmanship has elevated the show to new heights and we are excited to keep the momentum going with this creative partnership," Boone Isaacs said in a statement.
"We are delighted to work with Cheryl, Dawn and the Academy to produce the Oscars for a third time. We're proud of the show's success over the last two years and are eager to embark on another entertaining show to honor this year's motion pictures," Zadan and Meron said.