Her name comes in the second slate of presenters that includes Steve Carell, Quincy Jones, Byung-hun Lee, Jared Leto Julianne Moore, Olivia Munn, Margot Robbie, Jason Segel Andy Serkis, JK Simmons, Kerry Washington and Reese Witherspoon.
Reacting to the news, the 33-year-old Bajirao Mastani star tweeted, "Looking forward @TheAcademy!! This will be an insaaaane night!"
She has been receiving congratulatory messages on Twitter from her fans, colleagues from Bollywood and critics since the announcement.
Replying to one such post, the actress wrote, "Now the hunt for the perfect dress begins!!! #oscars2016."
Priyanka becomes the sole representative of India at this year's Oscar ceremony.
The country's official entry in the best foreign film category for the Oscars 2016, Court could not make it to the final five.
The Academy Awards are scheduled to take place on February 28, 2016, at the Dolby Theatre in Hollywood, California.
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