This will be the second time the actress, film director and music icon performs at the Oscars. She previously sang the love theme from "A Star is Born" on the March 28, 1977, show, winning the Best Original Song Oscar for "Evergreen" that same night.
"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 on this year's Oscars, her first time singing on the show in 36 years," producers Craig Zadan and Neil Meron said in a joint statement.
The producers did not say what Streisand will sing.
Oscars for outstanding film achievements of 2012 will be presented Feb. 24 at the Dolby Theatre at Hollywood & Highland Center. Seth MacFarlane is to serve as host of the event, which will air live on the ABC Television Network.