The most glamorous awards ceremony returns for its 89th year on Sunday, February 26.
Dozens of Hollywood A-listers will grace the red carpet for the Academy Awards, including nominees Emma Stone, Ryan Gosling (for La La Land), Meryl Streep (Florence Foster Jenkins) and Casey Affleck (Manchester by the Sea).
The coveted golden statue is an award that all actors and filmmakers hope to achieve when they start their career with only a lucky few winning each year.
And for those of us who aren't VIP enough to attend the event here is everything you need to know about how to watch the ceremony from the comfort of your home.
When is the ceremony?
The 89th Academy Awards will take place on Sunday, February 26 at the Dolby Theatre in Los Angeles. The ceremony will be hosted by late-night TV talkshow host Jimmy Kimmel.
It kicks off at 5:30pm, Pacific Standard Time which means it'll start at approximately 1:30am in the UK GMT time.
Where can I see the ceremony on TV?
You can watch the Oscars on Sky Cinema, the special Oscars channel which goes live in the run up to the ceremony to show past Oscar-winning films.
This is only available if you're subscribed to the Sky Film package on your TV box provider, whether that be Sky or Virgin.
How can I live stream the Oscars?
The only way to legally stream the Oscars is through NowTV via the Sky Movies Pass, which live streams the Oscars via the internet.
You can get the pass from NowTV.com. Once you have signed up the first 14 days of viewing come as a free trial, after that you will be charged £14.99 per month - but you can cancel this at any time.
Once you've watched the ceremony you don't have to keep paying because there is no contract. You can cancel your pass at any time via 'My Account' option which is activated once you've signed up and made an account.
La La Land leads the pack with 14 nominations, tying for the most nominations by a single film, this was previously achieved by Titanic (1997) and All About Eve (1950).
In the Best Actress category Ruth Negga (Loving) will go head to head with Natalie Portman (Jackie), Meryl Streep (Florence Foster Jenkins), Isabelle Huppert (Elle) and Emma Stone (La La Land).
Meryl is the first star in history to receive 20 Oscar nominations.
The Best Actor category includes Brit-born Andrew Garfield (Manchester by the Sea), Casey Affleck (Hacksaw Ridge) who recently won a BAFTA for his performance, previous winner Denzel Washington, La La Land's Ryan Gosling and Lord of the Rings star Viggo Mortensen.
Other British actors with nominations this year include Dev Patel for Lion and Naomie Harris for Moonlight.