The funnyman, 55, was nominated for his role in Dreamgirls in 2007 but he has never picked up gold at the Academy Awards.
However, Eddie, who is picking up solid reviews for his dramatic role in new movie Mr. Church, is certain he will be on the stage thanking his peers, mentors, agents and family members one day.
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In a new chat with The Hollywood Reporter, he says, "Eventually they're gonna have to give me that s**t. I already did 35 years in movies. Eventually y'all gonna have to give me something."
And he urges Oscars bosses not to wait until he's too old, adding, "If y'all wait 'til I'm 85, 90, I'm gonna come out a 90-year-old dude, in a sky blue tuxedo - there's a reason why it's sky blue - and I'm gonna walk out and when they give me the award and they hand it to me, I'm just gonna stand there and urinate on myself in front of the world - the whole world.
"Then they're gonna have to play that music and then they'll have to usher me off. That's gonna be my moment. Don't make me wait!"
But there's one stage Eddie fears he'll never return to - the stand-up comedy circuit.
The Beverly Hills Cop star tells the outlet he quit performing as a comedian because it stopped being fun.
"The reason it stopped being fun was it was harder to write... new stuff. It had gotten so crazy," he explains.
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"(I thought), 'Maybe I'll take a little break from stand-up'. And then the break just got longer. The whole comedy scene just turned into this big other thing. For years I've been procrastinating about it, going, 'I'll do stand-up again', and all of a sudden I'm this far away from it."
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