Academy Governor Whoopi Goldberg says Will Smith 's first-ever Oscar won't be taken away from him.
There were worries that the King Richard actor, 53, wouldn't get to keep his accolade after smacking Chris Rock across the face.
He shocked the world when he walked up on stage and hit the comedian, 57, following a joke about his wife Jada Pinkett Smith.
Upon returning to his seat, he even screamed profanities at the Death at a Funeral actor.
Will has since apologised for his action and called his behaviour 'unacceptable and inexcusable'.
Although the Oscar organisers have launched a formal review on the incident, Whoopi claims insisted that his award won't be taken away.
Whoopi said on Monday's The View: "I think it was a lot of stuff probably built up.
"I think he overreacted… I think he had one of those moments where it was like [God damn] it, just stop.
"I get it, not everybody acts the way we would like them to act under pressure. And he snapped..."
She added: "Sometimes you get to a point when you behave badly. I myself have behaved badly on occasion."
The View co-host Sunny Hostin said she was 'surprised he wasn't escorted out', and asked whether he would be stripped of the award.
Whoopi answered: "We're not going to take that Oscar from him.
"There will be consequences I'm sure, but I don't think that's what they're going to do, particularly because Chris said 'Listen, I'm not pressing any charges.'"
Following the shocking feud, the Academy of Motion Picture Arts and Sciences released a statement condemning Will's behaviour on the night.
The statement read: "The Academy condemns the actions of Mr Smith at last night's show.
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"We have officially started a formal review around the incident and will explore further action and consequences in accordance with our Bylaws, Standards of Conduct and California law."
The statement released by AMPAS follows a late-night tweet after the altercation, in which they posted: "The Academy does not condone violence of any form."
The probe could see Will ejected from AMPAS or suffer some sort of suspension from the organisation and its events, including next year's Oscars.
Los Angeles Police Department (LAPD) confirmed Chris declined to file a police report against the actor.
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