But, it was her dramatic hair transformation that really caught our eye. Olivia gave her chic pixie cut an update, swapping her trademark chestnut brown colour for a platinum blonde look.
The mastermind behind her new look is hairstylist Marcus Francis, who took to social media to share a how-to guide on how to achieve Olivia's striking look.
Alongside a picture of Olivia, he wrote: "Blonde ambition 💥 Nothing like a major change the DAY of the Oscars 🙃"
Olivia won Best Actress last year for her role in The Favourite. At this year's ceremony, the actress presented the award for Best Actor to Joaquin Phoenix.
As she took the stage with her new look, she joked: "Winning an Oscar ages you."
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