We have already looked at the battle that is raging for the Best Actor Oscar, but there is going to be just as stiff a fight for Best Supporting Actress.
There may be five actresses in the running - Sally Hawkins, Jennifer Lawrence, Julia Roberts, Luipta Nyong'o and June Squibb - but there are only two really in the race.
Lawrence and Nyong'o have been sharing the awards over the last few weeks, and now they are set to go head to head for the biggest film prize.
- Lupita Nyong'o - 12 Years A Slave
Lupita Nyong'o is the talk of the town after making a stunning feature film debut in Steve McQueen adaptation of slavery memoir 12 Years A Slave.
Nyong'o takes on the role of Patsey, a slave who suffers physical and sexual abuse at the hands of her 'owner'.
It is a devastating performance from Nyong'o, as she pours this character's pain onto the big screen in every single scene.
Her scene with Michael Fassbender - who takes on the role of plantation owner Epps - are some of the film's most powerful.
It has been one hell of a debut for Nyong'o, as she has picked up a whole host of awards such as the Screen Actors Guild Award, NAACP Image Awards, London Film Critics Circle Awards and National Society of Film Critics Awards - to name but a few.
However, she did miss out at the Golden Globes and, quite controversially, at the Baftas last week. She is now in the running for the Oscar, and could well waltz away with the prize at the weekend.
- Jennifer Lawrence - American Hustle
Jennifer Lawrence is no stranger to awards success, having scooped the Best Actress Oscar twelve months ago for Silver Linings Playbook.
She has reunited with director David O.Russell, and is enjoying even more awards success with American Hustle... but can she make it an Oscar double?
She takes on the role of Rosalyn Rosenfeld in American Hustle, the wife of central character Irving; played by Christian Bale.
There is no doubt that Lawrence really des shine in this film, as a woman who is laugh out loud funny as well as being barely in control.
American Hustle has been a critical smash since its release at the beginning of the year, and Lawrence's performance is just one that has been heavily praised; Lawrence, Bale, Amy Adams, and Bradley Cooper are all Oscar nominated for their work.
Lawrence has already tasted success this awards season, winning the Golden Globe and the Bafta
It is not very often that the Academy hands out an Oscar to an individual two years in a row... but that is exactly what will happen should Lawrence triumph at the weekend.
Nyong'o has taken home more trophies for her performance this awards season, but Lawrence won two biggies in the form of the Baftas and Golden Globes.
Having said all of that, it such a powerful performance from Nyong'o that I would be incredibly surprised if she misses out on Sunday night.
The Oscar winners will be revealed Sunday 2nd March.