The Academy does not condone violence of any form.

Tonight we are delighted to celebrate our 94th Academy Awards winners, who deserve this moment of recognition from their peers and movie lovers around the world.

— The Academy (@TheAcademy) March 28, 2022

The Academy released their statement via Twitter regarding the incident between Will Smith and Chris Rock.
They wrote, The Academy does not condone violence of any form.
Tonight we were delighted to celebrate our 94th Academy Awards winners who deserve this moment of recognition from their peers and movie lovers around the world.
Chris Rock and Will Smith have spoken and resolved the issue, this according to Diddy. Should the Academy rescind Will’s Oscar?