Finding out who wins an Academy Awards is great, but the real competition is on the red carpet. Check out five leading ladies who really got it right!

Angelina Jolie (above) made waves in 2004 in a white satin Marc Bouwer gown with a plunging neckline.

That same year Charlize Theron looked stunning in a white sequined figure-huggin Tom Ford for Gucci gown. Va va voom! Unfortunately, she had a fashion misstep a few years later.

In 2003, Jennifer Lopez took a chance in a mint green Valentino one-shouldered kaftan-styled robe based on a design for Jackie Kennedy.

Penelope Cruz turned heads in 2009 in a vintage Balmain 50's gown, while Halle Berry sizzled in 2002 in a burgundy Elie Saab gown. She also won "Best Actress" for Monster's Ball that year.

Check out all the looks in the video below: