They also bring an impressive track record of Oscar victories.
Nicholson has been nominated 12 times and won three statues for his leading performances in "One Flew over the Cuckoo's Nest" (1975) and "As Good as It Gets" (1997) and for his supporting work in "Terms of Endearment" (1983). He has also become an Oscars fixture over the years, with his trademark sunglasses and leer enlivening many a telecast.
Hoffman has been nominated seven times, winning twice 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," producers Craig Zadan and Neil Meron said in a statement. "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."
Hoffman and Nicholson join a list of presenters that includes Jane Fonda, Michael Douglas, Jamie Foxx, Melissa McCarthy, Ben Affleck, Jessica Chastain, Jennifer Lawrence, Sandra Bullock, Nicole Kidman, Reese Witherspoon, Mark Wahlberg, and "Marvel's The Avengers" cast members Robert Downey Jr., Samuel L. Jackson, Chris Evans, Jeremy Renner and Mark Ruffalo.
In addition, all of the four acting award winners from last year's ceremony - Jean Dujardin, Christopher Plummer, Octavia Spencer and Meryl Streep - will present on the show.
Music is also shaping up to be an important element on this broadcast, with Zadan and Meron lining up such big name performers as Adele, Dame Shirley Bassey, Norah Jones and Barbra Streisand.
The Oscars will air this Sunday and will be hosted by "Ted" star Seth MacFarlane.