Hollywood A-listers have gathered to celebrate the biggest night in cinema, the much awaited 2012 Oscars or more formally known as the 84th Academy Awards. Let's see the best celebrity dresses spotted on the grandiose 2012 Oscars red carpet!

Hollywood's heavy hitters swarmed the red carpet at the Hollywood & Highland Center on Sunday, February 26 in Hollywood to celebrate the biggest night cinema. Millions of fans watched their Hollywood favorites walk on the red carpet in their best gowns and tuxedos that are also a major attraction of the star-studded event. Nominated or not, actresses are dressed by the fashion world's finest couturiers with the most exquisite designs to flaunt their glamorous ways on the Oscars red carpet. Let's see who was best dressed at the 2012 Oscars!

Michelle Williams in Louis Vuitton

Michelle Williams 2012 Oscars Dress

"My Week With Marilyn" actress Michelle Williams arrived to the 2012 Oscars in a red Louis Vuitton gown with a peplum overskirt. She accessorized with Christian Louboutin heels, Bottega Veneta clutch bag and jewels by Fred Leighton and Forevermark.

Stacy Kiebler in Marchesa

Stacy Kiebler 2012 Oscars gown

George Clooney's other half Stacy Kiebler stunned in a liquid gold Marchesa gown, carrying a Judith Leiber clutch and wearing Lorraine Schwartz jewelry designs.

Jennifer Lopez in Zuhair Murad

Jennifer Lopez 2012 Oscars Dress

Jennifer Lopez donned a heavily embellished Zuhair Murad gown for the night's red carpet appearance. She carried a Salvatore Ferragamo box clutch.

Rose Byrne in Vivienne Westwood

Rose Byrne 2012 Oscars Dress

Actress Rose Byrne attended the 2012 Oscars with a black sequin one shoulder dress by Vivienne Westwood. She accessorized with Jimmy Choo peep-toe pumps and Chanel jewelry.

Jessica Chastain in Alexander McQueen

Jessica Chastain 2012 Oscars Gown

Gorgeous redhead Jessica Chastain wore an intricately embroidered strapless gown from Alexander McQueen. Harry Wiston jewelry finished off the look.

Viola Davis in Vera Wang

Viola Davis 2012 Oscars Dress

Viola Davis looked fabulous in green on the 2012 Oscars red carpet! Her custom-made Vera Wang gown is paired with Jimmy Choo shoes and a Judith Leiber clutch.

Milla Jovovich in Elie Saab

Mial Jovovich 2012 Oscars Gown

Milla Jovovich attended the 2012 Oscars celebrations in a beautiful Elie Saab one shoulder gown. She accessorized her red carpet look with Jacob & Co. jewelry designs and an Edie Parker clutch.

Angelina Jolie in Atelier Versace

Angelina Jolie 2012 Oscars Gown

Angelina Jolie showed some leg in her black velvet gown by Atelier Versace that she wore to the 2012 Oscars. Black peep toe platform pumps and Neil Lane jewelry complete her red carpet look.

Natalie Portman in Dior Couture

Natalie Portman 2012 Oscars Gown

Natalie Portman looked pretty in red on the 2012 Oscars' red carpet. She opted for a vintage Dior Couture dress. She accessorized with a Charlotte Olympia clutch and Harry Winston jewelry designs.

Gwyneth Paltrow in Tom Ford

Gwyneth Paltrow 2012 Oscars Dress

Gwyneth Paltrow arrived to the 2012 Oscars in an all-white look. She wore a Tom Ford one shoulder gown and long cape with Jimmy Choo heels and Anna Hu cuff and ring.

Sandra Bullock in Marchesa

Sandra Bullock 2012 Oscars Gown

Sandra Bullock strikes a pose on the red carpet in her black and white Marchesa gown with intricate gold detailing.

Emma Stone in Giambattista Valli Couture

Emma Stone 2012 Oscars Dress

Emma Stone brightened up the 2012 Oscars in a pink-hot Giambattista Valli Couture gown. She accessorized with Brian Atwood pumps and a Louis Vuitton clutch bag.

Rooney Mara in Givenchy Couture

Rooney Mara 2012 Oscars Gown

Rooney Mara looked graceful in her gown of choice on the 2012 Oscars celebrations. She wore an exquisite gown from Givenchy Couture, with a plunging neckline and a long train.

Cameron Diaz in Gucci

Cameron Diaz 2012 Oscars Dress

Cameron Diaz graced the 2012 Oscars' red carpet in a beautiful Gucci gown. Salvatore Ferragamo pumps and Tiffany & Co. diamonds completed the look.

Penelope Cruz in Giorgio Armani

Penelope Cruz 2012 Oscars Dress

Penelope Cruz channeled old Hollywood glam in her custom-made Giorgio Armani off the shoulder gown, which she paired with Chopard jewelry and a retro-inspired updo.

Photos: GETTY IMAGES