The official poster for the 2014 Oscars was released Wednesday, two months before the awards ceremony airs live on televison.

The Academy posted the picture of this year's host, Ellen DeGeneres, on Twitter. The picture shows her sitting down wearing a black and white tuxedo with the Oscar on her left side.

DeGeneres tweeted another photo of herself in the tuxedo where she's standing with her hands in her pockets. She referenced lyrics from a Justin Timberlake song in her message and also wrote, "I'm gonna host the Oscars!"

This is DeGeneres' second time hosting the Oscars. Producers Craig Zadan and Neil Meron announced her hosting gig in August 2013.

"We are thrilled to have Ellen DeGeneres host the Oscars," the producers said. "As a longtime friend, we had always hoped to find a project for us to do together and nothing could be more exciting than teaming up to do the Oscars."

The Oscar nominations are still in progress and will be officially announced on Jan. 16. While nothing is for certain, top contenders are already being named. 

The Los Angeles Times listed predictions for some of the most competitve categories. The publication said Captain Phillips, Nebraska, Her, Blue Jasmine and American Hustle are likely to be nominated for Best Picture.

For Best Actor, it ranked Robert Redford (All is Lost), Leonardo Dicaprio (The Wolf of Wall Street) and Tom Hanks (Captain Phillips) together. Sandra Bullock (Gravity), Amy Adams (American Hustle) and Cate Blanchett (Blue Jasmine) were put in the Best Actress category.

The 86th Annual Academy Awards takes place March 2 at 7 p.m. ET.

Tags: Ellen Degeneres Academy Awards