The stars will make history this year as the first all-female line-up to front the annual awards ceremony, which will air live on March 27.
It has also been 35 years since three presenters have shared the stage, which honours the best in film.
Appearing on Good Morning America, Emmy award-winning comic, writer and producer Schumer quipped: "I'm not sure who thought this was a good idea but I am hosting the Oscars, along with my good friend Wanda Sykes and Regina Hall.
"I better go watch some movies."
On Instagram, Schumer added that she is "honoured" to be performing alongside "legends" Hall and Sykes.
In a joint statement, Hall, Schumer and Sykes said: "We want people to get ready to have a good time.
"It's been a while."
The female stars will take over hosting duties following the mostly virtual ceremony in 2021 which did not have a host.
Will Packer, producer of the awards ceremony, said: "This year's show is all about uniting movie lovers.
"It's apropos that we've lined up three of the most dynamic, hilarious women with very different comedic styles.
"I know the fun Regina, Amy and Wanda will be having will translate to our audience as well.
"Many surprises in store. Expect the unexpected!"
Last year, the Oscars were delayed from February to April due to the pandemic.
Craig Erwich, president of Hulu Originals and ABC Entertainment, said: "Imagine having one of the funniest women in comedy today hosting the Oscars... Now, multiply that by three.
"Regina, Amy and Wanda are comedy powerhouses who will make history as the first female trio to host the biggest night in entertainment, and we're thrilled to have them at the helm to deliver an incredible show full of unforgettable moments and laughter."
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