More presenters will be announced soon.
Padukone, 37, who made her Hollywood debut in the 2017 action film xXx: Return of Xander Cage, is one of only a handful of Bollywood stars to be given the honour. Priyanka Chopra Jonas was a presenter in 2016.
She made waves last year at the Cannes Film Festival when she was named as one of the festival's nine-member jury. She also made history in 2022 by becoming the first Indian to be a Louis Vuitton ambassador.
Absurdist comedy-drama Everything Everywhere All at Once, featuring an almost entirely Asian cast, is the most-nominated film at this year's Oscars, with 11 nods. The film's lead, Michelle Yeoh, is also nominated in the Best Actress category, while her co-stars Stephanie Hsu and Jamie Lee Curtis are up for Supporting Actress. Ke Huy Quan is also nominated in the Best Supporting Actor category.
Record-breaking South Indian film RRR, could also make history at the ceremony in the Best Original Song category. Naatu Naatu from the Telugu historical drama became the first song from an Indian-made film to have been nominated for the award.
Directed by S S Rajamouli, and starring Telugu superstars N T Rama Rao Jr and Ram Charan as leads, RRR is a fictional take on two real-life revolutionaries in pre-independence India.
The 95th Academy Awards will be hosted by Jimmy Kimmel.
Scroll through the gallery below for stills from Best Picture nominees at this year's Oscars