MacFarlane and actress Emma Stone will list the leading nominations at an early morning press conference held at the Samuel Goldwyn Theater in Beverly Hills.
It's the first time an Oscars host has also presided over the nominations since 1972, when Charlton Heston took charge of both events.
Oscars experts predict a string of nominations for Les Miserables, Argo, Lincoln and Zero Dark Thirty.
Daniel Day-Lewis is a red hot favourite to pick up a Best Actor Oscar for his role in Lincoln, while Jessica Chastain and Jennifer Lawrence are expected to be the front-runners for Best Actress for their roles in Zero Dark Thirty and Silver Linings Playbook, respectively.
