The comedian and writer presented the ceremony from 2001 until 2006 when Jonathan Ross took over, but will return to front the show again next year.
The 2012 BAFTA Film Awards will be aired on Sunday, February 12 on BBC One.
Fry said: "I had a marvellous time presenting the Film Awards for the first six years of the century.
"Hard as it may be for some characteristically sceptical Britons to believe, the BAFTAs have real kudos, reputation and cachet all over the world of filmmaking and I, old as I am, never cease to be shamelessly glamorised by the sight of so many legendary names who come every year as nominees and presenters."
He continued: "The adorable Jonathan Ross has done a magnificent job since I last hung up my bow-tie and boxed my patent leather pumps, and I am honoured and pleased to return to the lectern and host what I am sure will be an evening of squeals, surreally weird acceptance speeches and genuinely exciting surprises and pleasures."
Ross added: "I have thoroughly enjoyed doing the Awards for the last five years and it is absolutely the right time for a change. I wish my old friend Stephen all the best and I'm sure he will do a fantastic job."
> In Full: BAFTA Film Awards 2011 Winners
> Q&A: Steve Jones's BAFTA red carpet guide
Watch Colin Firth's 'Best Actor' acceptance speech at the 2011 BAFTAs below: