Commonly referred to as The Oscars, the annual awards will take place at the Kodak Theatre in Hollywood, and Billy Crystal returns for his ninth time as host of The 84th Academy Awards, celebrating the outstanding film achievements of 2011.
The nominees for Best Picture include Hugo, Moneyball, War Horse, The Artist, The Descendents, The Help, The Tree of Life, Midnight in Paris and Extremely Loud & Incredibly Close, with many critics sighting The Artist as the frontrunner.
Other highly contested categories include Best Actor in a Leading Role, Best Actress in a Leading Role, Best Supporting Actor, Best Supporting Actress and Best Director.
Presenters this year include Ben Stiller, Chris Rock, Bradley Cooper, Emma Stone, Penelope Cruz, Angelina Jolie, Cameron Diaz, Halle Berry, Tom Cruise, Tom Hanks, Jennifer Lopez and the cast of Bridesmaids.
You can catch a live broadcast of the Academy Awards on Monday 27 February at 04:00 on Movie Magic 1 and at 22:00 on M-Net East and early on Tuesday 28 Feb at 00:00 on M-Net West and HD.