The 42-year-old singer would be performing the track at the Oscars on March 2, 2014, according to the show's producers Craig Zadan and Neil Meron.
'Let it Go', which is a track from animated film 'Frozen', has been penned by Kristen Anderson-Lopez and Robert Lopez.
'Frozen' has received two Oscar nominations this years in the categories of the best animated feature film of the year and the best original song for 'Let it Go'.
Menzel won a Tony Award for her performance as Elphaba in the original Broadway production of 'Wicked'. She has also received a Tony nomination for her Broadway debut in 'Rent'.