Nicholson has been nominated 12 times and won for his leading performances in "One Flew over the Cuckoo's Nest" (1975) and "As Good as It Gets" (1997). He also won the award for supporting actor in 1983 for "Terms of Endearment".
Hoffman, who has been nominated seven times, won for his leading performances in "Kramer vs Kramer" (1979) and "Rain Man" (1988).
"Between the two of them, Jack Nicholson and Dustin Hoffman have created more iconic characters than any other pair of actors in the world. Their participation in this year's Oscars completes a list of presenters and performers that truly represents that great breadth and depth of acting talent in film today," said Zadan and Meron.
Oscars will be presented tomorrow at the Dolby Theatre at Hollywood and Highland Center and will be hosted by Seth MacFarlane.