He referred to the debacle during last year's ceremony, when Best Picture presenters Warren Beatty and Faye Dunaway were handed the wrong envelope by PwC's star-struck accountants backstage and accidentally announced that "La La Land" had won Best Picture instead of the real victor "Moonlight".
As important, the famously-uptight Academy has embraced last year's unbelievable gaffe.
The Academy has implemented the cheeky slogan "What could possibly go wrong?" in Kimmel's advertising spots (featuring Beatty) and on the official Oscar poster.
But now the pair have been given another shot at their role, and will be announcing the same award this year. La La Land was mistakenly announced as the victor of the big prize of the night, as opposed to the true victor, Moonlight. And the poor presenters, Warren Beatty and Faye Dunaway, received the brunt of the blame. Host Jimmy Kimmel jokingly commented on Beatty's move at the time, "In other words, Clyde threw Bonnie under the bus".
"It's so nice seeing you again", Beatty said with a smile as he took to the stage. Of course, this time around, the award was presented without a hitch - though she says Beatty briefly struggling with the envelope did give her a bit of pause!
Instead, it's now been announced, the Best Actress award will be presented by Jennifer Lawrence and Jodie Foster, with Jane Fonda and Meryl Streep presenting the Best Actor award.
Beatty looked down at it, no doubt with flashbacks from previous year racing through his mind, quipped: 'Are you sure?' To make sure the envelope mix-up won't happen again, the Academy has implemented new procedures that include making sure the announcers get the correct category envelope before stepping onto the stage.
He also joked that the incident was "waterhouse under the bridge", in reference to the PricewaterhouseCooper accountants who were responsible for the envelope mix-up.
Comediennes Haddish and Rudolph co-presented the awards for animated and live-action short films and they were hilarious.
You can compare how large the text is in the image above with last year's envelopes, and the difference is huge - literally.