Every year, the entertainment community and film fans around the world turn their attention to the Academy Awards. The 81st edition took place Sunday, February 22, 2009 at Hollywood’s Kodak Theatre with host Hugh Jackman and glamorous stars and celebrities graced the famous Red Carpet.

Diamonds and fabulous dressed ruled at the Academy Awards, so let’s dream with some stunning images.

Freida Pinto, slumdog millionaire actress, sparkled in midnight-blue beaded lace John Galliano gown and showed off a diamond ring of East Indian provenance and an elegant pair of diamons earrings.

Sarah Jessica Parker, chic and glamorous as usual, wore a sea foam silk tulle Dior Haute Couture bustier gown, cinched at the waist, with an enormous ballerina skirt.

The Spanish actress Penelope Cruz chose a 1950s vintage Pierre Balmain strapless ivory lace gown, hand-embroidered with gold bullion threads, that she got from top vintage curator Rita Watnick’s Lily et Cie. It was perfect to enhance her natural beauty.

Like a mermaid, Anne Hathaway wore a Giorgio Armani Prive’s champagne-colored gown, covered in crystals and circular pailettes with a jeweled dragon brooch on the back.

Kate Winslet wore a one-shouldered gray Yves Saint Laurent gown.

Sean Penn wore a black classic Giorgio Armani.

Mickey Rourke was perfect in a Jean Paul Gaultier white wool tuxedo with a black vest and chained, zipped-up watch pockets. He had, around his neck, a photo pendant of his recently deceased pooch Loki.

And the Oscar goes to…which is your favorite one?