"The Artist" is the night's big winner taking home the award for Best Picture. "The Artist" went into the night with 10 nominations and walked away with an impressive five wins.
The "Iron Lady" herself, Meryl Streep, took home the award for Best Actress tonight at the Oscars. This was Streep's 17th Oscar nomination and the third time she's won. Streep won Supporting Actress in 1980 for "Kramer vs. Kramer," and in 1983 she won Best Actress for "Sophie's Choice."
"The Artist's" Jean Dujardin received his first Oscar win and became the first Frenchman to accept a Best Actor statue. Dujardin beat out George Clooney and Brad Pitt for the award.
Earlier in the evening, Octavia Spencer accepted an Oscar and a standing ovation, as she made her way to the stage to receive her first Academy Award for her role in "The Help."
This makes it a sweep for Spencer this awards season: Earlier she took home the SAG and Golden Globe award for playing the headstrong maid, Minny, in the film.
Christopher Plummer won Best Supporting Actor for "Beginners." This win makes 82-year-old Plummer the oldest actor to earn an Oscar. Plummer won the SAG and Golden Globes award for this role.
Tom Hanks presented the first two awards of the night and they both went to "Hugo!" The Scorsese film won for Cinematography and Achievement in Art Direction. "Hugo" has the most nominations for the night, 11, and so far have won five awards.
Cameron Diaz and Jennifer Lopez handed out the next two awards for Costume Design and Makeup to "The Artist" and "The Iron Lady," respectively.
Angelina Jolie presented the awards for Best Adapted Screenplay and Original Screenplay. "The Descendants" took home the award for Adapted Screenplay and Woody Allen won Original Screenplay for "Midnight in Paris." This was Allen's 15th screenplay nomination. This win makes Allen the first person to take the category three times.
The Best Directing category was a bit of a surprise. Many thought Martin Scorsese would take win the award, but instead Michel Hazanavicius won for "The Artist" and thanked Uggie the canine star from the movie.