Among the frontrunners in the race to grab the best picture award are "Gravity," "12 Years a Slave" and "American Hustle".
Meanwhile, in the acting category, Hollywood hunk Leonardo DiCaprio is facing his fourth nomination in the best actor the Oscars this year.
He is facing stiff competition from Christian Bale (American Hustle), Bruce Dern (Nebraska), Chiwetel Ejiofor (12 Years a Slave) and Matthew McConaughey (Dallas Buyers Club).
Here are some facts about the Oscars:
