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Recipients over the years have included acting legends such as Vivien Leigh, Grace Kelly and Elizabeth Taylor, while more recent famous winners include Gwyneth Paltrow, Julia Roberts and Jennifer Lawrence.
Each of them had to choose a gown to wow on the red carpet and while some, like Joanne Woodward in 1958 and Julie Christie in 1966, made their own dresses, others turned to their designer contacts.
Some of the world's most renowned designers have dressed the best actress winners including Jean Paul Gautier, Yves Saint Lauren and Ralph Lauren. It seems the designer with the lucky touch is Dior who has dressed the most winners over the decades.
On Monday, either Julianne Moore, Rosamund Pike or Felicity Jones will be added to this illustrious list of best actress winners for the first time - or Reese Witherspoon or Marion Cotillard will appear again having been nominated after previously winning.
As the 87th Academy Awards are due to take place in Hollywood, here we take a look back at the last twenty years of gowns worn by Best Actress winners:
Image 1 of 20: HOLLYWOOD, CA - MARCH 02: Actress Cate Blanchett poses in the press room at the 86th annual Academy Awards at Dolby Theatre on March 2, 2014 in Hollywood, California. (Photo by Jason LaVeris/WireImage)