The American funny man, who hosts Late Night With Jimmy Fallon, is said to be frontrunner for the job of hosting the prestigious event, which will be produced by Lorne Michaels -- the creator of Saturday Night Live.

Michaels and Fallon have worked together before, with Fallon kick starting his career as a contributor on the long-running comedy show back in the late nineties. Lorne also acts as a producer on Fallon's late night chat show.