Waltz won the award for his role as Dr. King Schultz, a dentist and bounty hunter in Quentin Tarantino's "Django Unchained." Also nominated in the category were Alan Arkin ("Argo"), Tommy Lee Jones ("Lincoln"), Robert De Niro ("Silver Linings Playbook") and Philip Seymour Hoffman ("The Master").
Eery nominee in this category had won at least one Oscar previously. Arkin won for his turn in "Little Miss Sunshine," De Niro for "The Godfather Part II" and "Raging Bull," Hoffman for "Capote," Waltz for "Inglorious Basterds" and Jones for "The Fugitive."
Jones and Waltz were considered the favorites shortly before Sunday's awards, and the HuffPost Oscar Predictions reflected that, giving them a 46 and 40 percent chance to win respectively.
"We participated in a hero's journey, the hero here being Quentin," Waltz said when accepting the award.
The 2012 award for this category went to Christopher Plummer for his role as Hal Fields in "Beginners."
The Academy of Motion Picture Arts and Sciences selects Oscar nominees and winners, which helps explain why the winners of previous awards like the Golden Globes and Critics' Choice Awards (voted on by members of the press), and Screen Actors, Writers and Directors Guild Awards (voted by members of those particular trades) aren't direct predictors of Sunday's broadcast.
Seth MacFarlane hosted this year's Oscars from the Dolby Theatre in Los Angeles.
More information about winners, performances and more can be found in the live blog below the following gallery.
02/25/2013 1:18 AM EST
Good Night, And Good Luck
02/25/2013 1:07 AM EST
Ben Affleck Is Not Into Oscar Punditry
From backstage at the Oscars:
When did you feel a tipping point in your favor for this film?
Clooney: Michelle Obama.
Ben: When they gave us the trophies I was confident that we would win. I don’t get too much into the Oscar-ology and the pontificating. It doesn’t help me to read up on that stuff.
02/25/2013 1:06 AM EST
Daniel Day-Lewis' Facial Hair
Backstage at the Oscars with Daniel Day-Lewis:
Was it uncomfortable wearing the beard?
What do you mean? No it's just a beard. Do you wear your hair? It was my very own beard.
02/25/2013 12:54 AM EST
What Jennifer Lawrence Thought When She Fell
From HuffPost Los Angeles correspondent Sasha Bronner:
"A bad word. That starts with F."
02/25/2013 12:50 AM EST
Ben Affleck's Best Picture Winner Face
02/25/2013 12:49 AM EST
Patricia Clarkson At The Vanity Fair Oscar Party
More on Patricia Clarkson's look here.
02/25/2013 12:44 AM EST
How Movies Change During Oscar Season
Here's Awards Daily blogger Sasha Stone just after "Argo" won Best Picture.
@ AwardsDaily :
See, I told you Argo was Crash incarnate. Won the same amount of awards even.
Have you ever seen a movie where you walk out saying, “That was just a great f--king movie”? That’s Ben Affleck’s Argo. Inexplicably, a film that draws its strength from humor and suspense, winds up being more moving the second time through. Perhaps because once you have been through the suspense part of it you get to know the characters better and therefore care about their outcomes more.
02/25/2013 12:42 AM EST
Ben Affleck's Arc
@ LouLumenick :
Affleck: Oscar winner to laughingstock to Oscar winner. You can't make these things up.
02/25/2013 12:31 AM EST
At Least Someone Liked It
@ m1keh0gan :
Tommy Lee Jones told me Seth MacFarlane was "hilarious." His favorite part? "I Saw Your Boobs." #notkidding
02/25/2013 12:28 AM EST
Daniel Day-Lewis' Meryl Streep Joke
“It’s a strange thing, because three years ago, before we decided to do a straight swap, I had actually been committed to play Margaret Thatcher, um...” he joked. “And Meryl was, was Steven’s first choice for ‘Lincoln.’ And I’d like to see that version. And Steven didn’t have to persuade me to play Lincoln, but I had to persuade him that, perhaps, if I was going to do it, that Lincoln shouldn’t be a musical.”
More on Daniel Day-Lewis' Oscar speech here.