Jennifer Lawrence, Angelina Jolie, Leonardo DiCaprio, and many more are expected to attend.
So far, white seems to be the colour of the night.
See who brought the glitz and glamour, and who maybe should have stayed off the red carpet.
'12 Years A Slave' Best Supporting Actress nominee Lupita Nyong'o in custom-made Prada. She says she chose blue because 'it reminds me of Nairobi so I wanted to have a little bit of home with me.'
Jason Sudeikis, in Prada, took a picture of his pregnant fiancé, Olivia Wilde, who is wearing Valentino.
John Legend, who is performing at the Governor's Ball after the show, with wife Chrissy Teigen in Monique Lhullier.
'American Hustle' Best Actress nominee Amy Adams in Gucci. She says of the dress, 'It felt like me and that doesn't always happen.'
'Wolf of Wall Street' Best Actor nominee Leonardo DiCaprio embraces Christoph Waltz on the red carpet.
'Dallas Buyer's Club' Best Supporting actor nominee Jared Leto arrived on the red carpet with his beautiful mother and brother.
Olympics-turned-Oscar commentators Johnny Weir and Tara Lipinski were among the first on the red carpet.
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