Hurd, who resigned from Hewlett-Packard last month following a company investigation of questionable expense reports, also will service as a director at Oracle, The New York Times reported.
Oracle chief executive Lawrence Ellison said Hurd has more relevant experience than any other executive in the information technology field.
"Mark did a brilliant job at H.P., and I expect he'll do even better at Oracle," Ellison said in a statement.
Hurd said in a statement he is "excited to be a part of the most innovative technology team in the IT industry," the Times said.
Hurd will take the position that has been held by Charles Phillips Jr., who has resigned effective in December. Oracle's other co-president is Safra Catz.