BlackVoices.com reported the decision to have Foxx preside over the June 28 ceremony at the Shrine Auditorium.
Black Entertainment Television is expected to officially announce the event's host this week.
BlackVoices.com said a representative for BET declined to confirm its report.
Foxx is best known for his work on the TV sketch comedy series "In Living Color," as well as in the films "Ray," "Collateral," "Dreamgirls" and "The Soloist."
Notable deaths of 2014 [PHOTOS]
Mindy Kaling mistaken for Malala Yousafzai