ENTERTAINMENT
03/02/2014 11:45 pm ET Updated Mar 08, 2014

Cate Blanchett, Best Actress Oscar Winner At 86th Annual Academy Awards

Kevin Winter via Getty Images

Cate Blanchett took home Best Actress at the 86th annual Academy Awards on Sunday. The actress won for her celebrated performance in Woody Allen's "Blue Jasmine," playing a Manhattan socialite who loses her wealth when her husband is exposed in a Bernie Madoff-esque corruption scandal.

"Sit down, you're too old to be standing," Blanchett said at the start of her acceptance speech, which followed a standing ovation. Some wondered whether Blanchett would thank Allen amid the brouhaha surrounding his child-abuse allegations, and indeed she did.

Blanchett topped Amy Adams ("American Hustle"), Sandra Bullock ("Gravity"), Judi Dench ("Philomena") and Meryl Streep ("August: Osage County"). This is her second Oscar, following her 2005 Best Supporting Actress win for "The Aviator." She has been nominated an additional four times, for "Elizabeth," "Notes on a Scandal," "I'm Not There" and "Elizabeth: The Golden Age."

Blanchett, 44, was declared the category's frontrunner way back in July, when "Blue Jasmine" first opened. Adams gained some momentum in the wake of the "American Hustle" fervor and her subsequent Golden Globe win in the musical or comedy category, but nearly every major pundit kept Blanchett at the top of his or her predictions in what became one of the most straightforward Best Actress contests in recent years.

For continuous Oscar updates, check out our live blog below:

03/03/2014 12:39 AM EST

That's A Wrap

An historic night for Steve McQueen and "12 Years a Slave," wins for Matthew McConaughey, Cate Blanchett, Jared Leto and Lupita Nyong'o, seven Oscars for "Gravity" and no love for "American Hustle." These were your 2014 Oscars. Hope you enjoyed it!

12 years a slave

03/03/2014 12:01 AM EST

"12 Years A Slave" Is Your Best Picture

As expected, "12 Years a Slave" won Best Picture. Producers Brad Pitt and Steve McQueen accepted the award.

03/02/2014 11:56 PM EST

All Right, He Said It

03/02/2014 11:52 PM EST

Um?

03/02/2014 11:51 PM EST

Matthew McConaughey Wins Best Actor

#truedetectiveseason2 is McCounaughey and his Oscar. He won for his role in "Dallas Buyers Club."

03/02/2014 11:47 PM EST

Cate Blanchett Thanked Woody Allen After Winning Her Oscar

She also gave an impassioned plea to Hollywood to acknowledge that people want to see movies with female leads. One of the night's most memorable speeches.

03/02/2014 11:42 PM EST

Time For Best Actress!

Will Cate Blanchett thank Woody Allen? Let's find out!

03/02/2014 11:39 PM EST

Not The Best They've Ever Done

"American Hustle" has lost seven times, thus far, on Oscar night, including in the Original Screenplay category where Spike Jonze's "Her" took top honors.

03/02/2014 11:38 PM EST

"Gravity" Has Seven Oscars Right Now

Just because it's great and you need to know that.

03/02/2014 11:35 PM EST

Alfonso Cuaron Wins Best Director For "Gravity"

Cuaron wins his second Oscar of the night for "Gravity."

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