The comedian, 50, led this weekend's episode of the sketch comedy show alongside first-time musical guest Olivia Rodrigo. "Man, this has been an incredible week folks. Masks are coming off, life is getting back to normal and I am hosting SNL!" Key said.
"I have been a super fan of this show ever since I was a little kid. I grew up a block south of 8 Mile Road in Detroit and I used to sneak downstairs to watch SNL every week and if you had told that kid that one day he would be standing here on this stage," he continued.
"He probably would've been too busy stealing your wallet to have heard what you said. But I've come a long way since then and I am so honored to be here. And because of that, I am going to make the most," he shared before breaking out in song.
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"I'm gonna do it all tonight, every single SNL thing tonight. Sketches and voices and songs tonight, like the one I'm singing now," the actor began as he did a costume change in the same tuxedo outfit.
During his opening monologue, cast members Pete Davidson, Cecily Strong and Kenan Thompson made cameos as Key took questions from the audience. "Hi, big fan. What was it like winning an Oscar for Get Out?" the fan asked with Key responding: "Oh so close."
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Though it was Key's first time hosting SNL, the star is no stranger to sketch comedy — after spending six seasons on MADtv, he went on to create his own beloved show with Peele, Key & Peele, that ran from 2012 through 2015.
More recently, Key has been focusing on his upcoming AppleTV+ comedy series, Schmigadoon!, which set to premiere on the streaming service in July.
SNL airs Saturdays at 11:30 p.m. ET on NBC.