The Academy Awards celebrates its 88th birthday tonight, and of course, there will be a few statuettes handed out for the best film, actor, special effects and so on. But who will scoop the prestigious title of best-dressed on the world-famous red carpet of grace and glamour?

Beginning in 1929, the Oscars have long celebrated the talents of some of Hollywood's biggest names but for many, the ceremony wouldn't be the same without a parade of Prada, Versace and De la Renta dresses

Flash back to 1953, arguably the year the Oscars rightfully earned its place in the fashion spotlight. A young Audrey Hepburn took to the stage in a floral Givenchy dress after winning Best Actress for her role in Roman Holiday. The delicate belted dress, alongside her role in the production, captured hearts around the world and perhaps even founded the beautiful bond between film and fashion we know today.

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The year 1997 was also pivotal for the red carpet as Nicole Kidman proved that fortune favours the bold. Her choice of a chartreuse Chinoiserie number designed by John Galliano for Dior seemed a bold move at the time, but has remained one of the event's most memorable gowns.

Undoubtedly, however, one of fashions biggest Academy Awards accolades belongs Julia Roberts for donning vintage Versace dress at the 73rd ceremony in 2001, where she won Best Actress for her role in Erin Brockovich. Roberts ruled the red carpet in a black and white gown originally created for Versace's 1982 couture collection, a moment not only believed to be a the high point of the designer's career but which sparked a new Oscars night vogue for vintage dresses.

Renee Zellweger also wore an iconic bright yellow 1959 Jean Dessès dress at the 2001 ceremony, while in 2006, a year which saw the appearance of many vintage Valentino gowns, Reese Witherspoon dazzled in a 1955 vintage Dior dress.

In years to follow, the tradition of the Oscar dress blossomed with Hollywood starlets such as Charlize Theron, Angelina Jolie, Halle Berry and Julianne Moore recognised for their ability to capture the epitome of Hollywood glamour, never failing to transform the red carpet into a runway.

The year 2013 is memorable for Jennifer Lawrence's Dior dress, in which the star looked the image of elegance and femininity, even with the "missed step" moment when she tripped on the stairs. In the same year, Amy Adams ran a close second in a feathered Oscar De la Renta gown.

Returning to present day as our fingers hover over the remote control in angst to watch this evening's E! live coverage, key designers to look out for include Versace, Dior and Oscar De la Renta, all of whom never fail to produce outstanding gowns for Hollywood's leading ladies.

Who will make haute-couture history during the 88th Oscars night ceremony, and who will be the belle of the ball? One thing is for sure, we are unlikely to be disappointed in the array of gowns on show.