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OTRC: Oscars history: Ben Affleck & Matt Damon win for 'Good Will Hunting' (Video)

Ben Affleck and Matt Damon appear in an enthusiastic speech for their win in "Good Will Hunting" at the Academy Awards. (Academy Awards / OTRC Videos)

Throughout this Oscar season, we are looking back at some of the great moments in Oscar history. At the 70th Oscars in 1998, Matt Damon and Ben Affleck won the Oscar for Best Original Screenplay for their 1997 drama "Good Will Hunting."

The film centered around Boston native Will Hunting, portrayed by Damon, who is a 20-year-old genius forced to study math and labor to get by and avoid jail time. Hunting sees a therapist, portrayed by Robin Williams, and re-evaluates the key relationships in his life with his best friend who is portrayed by Affleck, and his girlfriend who is portrayed by Minnie Driver.

During their acceptance speech, the pair were modest about their win.

"I just said to Matt, 'losing would suck, and winning would be really scary - and it's really, really scary,'" Affleck joked during the speech. "We're just really two young guys who were fortunate enough to be involved with a lot of great people."

The pair went on to thank the other actors in the film, their parents and many others...in a very eager manner (Watch above). At one point in the video, the acting duo are yelling and using large hand gestures to express their excitement over their first Oscar win.

Damon also earned an Oscar nod for his acting in the 1997 film, and went on to earn an Oscar nomination for his acting in the 2009 film "Invictus."

Affleck directed the 2012 movie "Argo," which is currently nominated for seven Oscars, including Best Picture (check out a full list of 2013 Oscar nominations).

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The Oscar ceremony will air live on Sunday, February 24, 2013 on ABC, OnTheRedCarpet.com's parent company.

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