James Franco and Anne Hathaway hosting Oscars 2011

And they’re off! The Oscars 2011 hype machine has kicked itself into gear after a few months of hibernation, with news that James Franco and Anne Hathaway will be hosting this year’s ceremony.

After last year’s comedy duo Alec Baldwin and Steve Martin kept the laughs coming, it seems the Academy want to go younger in 2011 with bright young things Franco and Hathaway.

“James Franco and Anne Hathaway personify the next generation of Hollywood icon,” say Oscar producers Bruce Cohen and Don Mischer, “fresh, exciting and multi-talented.

“We hope to create an Oscars broadcast that will both showcase their incredible talents and entertain the world on February 27. We are completely thrilled that James and Anne will be joining forces with our brilliant creative team to do just that.”

This will mark Hathaway’s fifth appearance at the Oscars (she even contributed to one of Hugh Jackman’s opening numbers), while it’s the second time out for Franco. Considering they’re both charismatic stars, we’re sure they’ll pull it off with aplomb.

The 83rd Academy Awards ceremony will take place on 27 February, 2011.