The US comedian was named as the host of the awards ceremony last month, but shortly after, it was discovered he’d shared a number of offensive tweets between 2009 and 2011.
While he initially rejected the Academy’s demands to apologise, he later stood down from the job.
However, Kevin has now said he is reconsidering his options, as he appeared on ‘The Ellen DeGeneres Show’ to discuss the furore.
In a clip of the interview that Ellen tweeted, Kevin can he heard saying: “I do not want to stand on that stage and make that night about me and my past, when you have got people who have worked hard to step on that stage for the first time and receive a reward.
“Either my apology is accepted or it isn’t. Either I can move forward as a person or I can’t. But you can’t grow as a person without mistakes.”
He continued: “I am not perfect. There is no perfect bone in my body, I have made mistakes and I have embraced them all because I am a better man today because of it. I want to be done with this conversation.”
Ellen replied: “I know you are not that guy because I know you.” She then said he should reverse his decision to pull out and instead host the Oscars, to which he replied he was “evaluating” his decision.
She then revealed she had called the Academy to ask them to rehire Kevin.
He added: “My goal is to bring people together not tear us apart. Much love and appreciation to the Academy. I hope we can meet again.”
A replacement host is yet to be announced for the Oscars, which take place on 25 February.