"It came true!" she cried as she took the stage to accept the award. She went on to thank the cast and crew including Hugh Jackman ("Hugh, you're the best!")
Hathaway didn't forget to thank her friends and family — including husband Adam Shulman — and work in a vague political reference.
"My husband, by far and away the greatest moment of my life is the one when you walked into it," she said. "I love you so much. Here's hoping someday in the not-too-distant future the misfortunes of Fantine will be only found in fiction and not in real life."
Last month, Hathaway took home her first Golden Globe award for her performance in "Les Miserables." Long heralded as the favorite for the category, she made waves with her over-the-top breathless acceptance speech. She was previously nominated for both a Golden Globe and an Oscar for her role in 2011's "Rachel Getting Married."
Hathaway hosted 2011's 83rd annual Academy Awards with James Franco. The duo's awkward dynamic led the show to be heralded as the "worst Oscars ever" by the Today show.
The 85th annual Academy Awards were hosted by Seth MacFarlane.
More information about winners and performances can be found in the live blog below.
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.