By Meghan Blalock
Updated Jan 30, 2013 @ 6:00 pm
Barbra Streisand Oscars
Credit: Getty Images

Best news of the day: Babs is back! Barbra Streisand will perform at the 85th Annual Academy Awards, taking over the Oscars stage for the first time since her performance of "A Star Is Born" in 1977. "In an evening that celebrates the artistry of movies and music, how could the telecast be complete without Barbra Streisand?" producers Craig Zadan and Neil Meron said in a statement. "We are honored that she has agreed to do a very special performance on this year's Oscars, her first time singing on the show in 36 years." No word yet on what the two-time Oscar winner will perform, but combined with Adele's performance of the theme from Skyfall, it's sure to be an epic diva-filled night! (Seth, who?!) Tune in to ABC at 7/6c on February 24 to hear the vocal powerhouses in action.

Plus, see this year's Oscar nominees!