Oscar-winning producer Brian Grazer will take the reins as producer of the 84th Academy Awards after Brett Ratner dramatically stepped down, it was announced last night.

Sources tell Page Six the show under Grazer may now include an ensemble of “hot” presenters rather than one key host.

BRETT RATNER OUT AS OSCAR PRODUCER

EDDIE MURPHY EXITS AS OSCAR HOST

Grazer was due to meet last night with brass from the Academy of Motion Picture Arts and Sciences, sources said, to discuss new host ideas and to rescue the Feb. 26 live telecast.

The move to hire Grazer — in the wake of Ratner’s and then host Eddie Murphy’s dramatic exits — came as Imagine Entertainment honcho Grazer touched down in Los Angeles from New York late Tuesday after he’d screened his Clint Eastwood film, “J. Edgar,” which stars Leonardo DiCaprio and is gaining big Oscar buzz.

“No decision has been made about who will take over the hosting duties,” said a source. “Brian has some ideas, but he wants to see who the Academy has already spoken to and what they think.” Also, events producer Don Mischer has stayed on to co-produce the show.

The choice of Grazer came in the wake of Ratner’s spectacular Oscars step-down: He resigned Tuesday after saying, “Rehearsal’s for fags” at a Q&A for the Grazer-produced “Tower Heist” last week, and then talking to Howard Stern about his eventful sex life.

Murphy followed suit, resigning as host yesterday, leaving the awards in chaos and Grazer to save the day. About Murphy, a source told us, “Brett had persuaded him to host, and without Brett there, Eddie didn’t feel he wanted to do it.”

Hiring Grazer, who produced the Best Picture-winning “A Beautiful Mind,” will certainly keep many of the Academy’s more traditional guard happy after its experiment to be hip with Ratner backfired.

Academy president Tom Sherak announced the move. Grazer did not return calls.