The Academy Awards: what you need to know
10 January 2013 Last updated at 05:38 GMT
The Academy Awards - or the Oscars as they are more commonly known - are the film world's most prestigious awards.
They have taken place in Hollywood since 1929 and the winners are voted for by 6,000 academy members.
A win can transform the career of an actor or film maker almost overnight.
BBC Entertainment Reporter Natalie Jamieson explains how the awards work.