The appearance will mark only the second time that Streisand has performed at the Oscars, and her first in 36 years.
Back in 1977, she sang "Evergreen," the theme from "A Star Is Born," on the telecast. The tune, which Streisand co-wrote, won the Academy Award for Best Original Song that year. Streisand also starred in the film.
It's already been announced that this year's Oscars, which will air on ABC February 24, will include a tribute to movie musicals, and performances by not only Adele, but also Norah Jones.
In a statement to ABC News, the executive producers of this year's Academy Awards, said, "In an evening that celebrates the artistry of movies and music, how could the telecast be complete without Barbra Streisand? We are honored that she has agreed to do a very special performance."