Actor Michael Douglas poses for a picture as he arrives at the premiere of "Contagion" in New York September 7, 2011. [Photo: Chinadaily.com.cn/Agencies]

The veteran actor - recovering from throat cancer - is tipped to announce the Best Picture award, although organizers will not confirm this until the night of the ceremony.

Michael is no stranger to the Academy Awards, having won two himself: Best Actor for his performance in 'Wall Street' in 1987 and the Best Picture Award as a producer of 'One Flew Over The Cuckoo's Nest' in 1975.

The 'Haywire' star will be in good company on the night, as he joins the likes of Halle Berry, Rose Byrne, Bradley Cooper, Tom Cruise, Penelope Cruz, Cameron Diaz, Tom Hanks, Angelina Jolie, and many others in presenting the awards.

Michael - who has children Dylan, 10 and Carys, eight, with Welsh actress wife Catherine Zeta-Jones, as well as grown up son Cameron with ex-wife Diandra - said last year he was starting to feel like his ''old self'' after successful treatment for his cancer.

He said: ''I feel pretty good. After a rough treatment program I'm getting back to feeling like my old self.

''I'm still working on regaining weight and improving my conditioning, but it's coming along well. The most important thing is the cancer is gone and hasn't come back - for the first year after my treatment I have to have it checked each month, but the doctors are very positive.''

The Oscars will take place on Sunday at the Kodak Theatre in Hollywood, hosted by Billy Crystal.

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