And if you are planning on your own little soirée the people behind the biggest party of the year say it's easy to throw your own Oscar party at home.
"What I would do is first of all, is organize the party," said celebrity chef Wolfgang Puck. "Invite the people and have them dress up so it looks festive. Make sure people don't come wearing a T-shirt and jeans with holes in it."
"E-mail all the nominated ballots out, you know, get everybody to have some fun," said Cheryl Cecchetto, Governor's Ball producer. "Go online and get menu items from Wolfgang Puck. Serve them White Chandon campaign and a signature cocktail. You know, make the evening really a lot of fun with a competition, and the elements we are using."
An important element of any party will also be the flowers. And you can make your own party look like the Oscar's with tips from floral designer Mark Held.
"For this year, it's about the color. It's about purple and orange. It doesn't matter what the flowers are, we are using a big variety of flowers," said Held. "Just as long as you have that color mixture. Get something orange, something purple and mix it up a little bit together and you got the look."
But the most important thing at any party is the food.
And Puck's number one tip for any host or hostess is to make it easy -- go for a buffet.
"So that way, people can go and serve themselves and eat a little bit, watch TV a little bit," said Puck. "What you don't want to do is stay all night in the kitchen. I don't wanna do that either. I have to go out and see the guests. So if you invite people at home, get ready and set everything up, then you can enjoy the party too."