The 94th Academy Awards will take place on Sunday, March 27 at the Dolby Theatre in Hollywood, Los Angeles.
Films tipped for the top spot include Belfast, Power of the Dog and Dune.
But who has won the most Oscars? Here's everything you need to know.
What actor has won the most Oscars?
The actor who has won the most Oscars is none other than Katharine Hepburn.
Hepburn won four Oscars throughout her career and her winning streak has still yet to be beat.
The actor won her first award in 1933's Morning Glory, winning her second in 1976 with Who's Coming To Dinner, her third in 1968 for The Lion in Winter and her fourth in 1981 for On Golden Pond.
Even though she is known for winning the most awards, Hepburn never attended the Oscars to collect any of them.
What film has won the most Oscars?
There are three films that have all won the most Oscars, with all winning 11 each.
They are Ben-Hur in 1959, Titanic in 1997 and Lord Of The Rings: The Return of The King (2003).
Who has won the most awards in total?
Walt Disney holds the records for winning the most Oscar awards in total, with 22 under his belt.
What director has won the most awards?
The director that has won the most awards is John Ford.
Ford had a long career in Holywood, starting off in silent cinema, but later became known for his westerns.
He won his four Oscars for The Informer 1935, The Grapes of Wrath 1940, How Green Was My Valley 1941 and The Quiet Man in1952.
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