88th Academy Awards may be as exciting as they are unpredictable

HOLLYWOOD, CA (KTRK) -- The red carpet has been rolled out and all eyes are on Hollywood tonight for the 88th annual Academy Awards.

We all want to know: Will this be the year Leonardo DiCaprio finally takes home an Oscar? Plus, what will everyone wear?

The Oscars will be broadcast right here on abc13 and in 225 countries, with the potential to reach hundreds of millions of people around the world.

A CGI bear, a martian, a post-apocalyptic warrior and a Wall Street trader are just a few characters facing off in tonight's Academy Awards.

Nominated films this year take audiences from a single room to the newsroom, back in time to eras past, and soon to Hollywood's biggest night.

The scene of the ceremony has been a construction zone for days. The red carpet has been tacked down, and The Governor's Ball after-party is getting decked out, too.

Later this evening, we will find out which of eight films will be deemed the best. There seems to be no predictable winner for best picture.

For best actor, analysts say it is definitely Leonardo DiCaprio's year. He has been nominated five times now, but has never won a statue.

The best actress category includes past winners, but the first-time nominee Brie Larson adds an interesting twist after she snagged the Screen Actor's and Golden Globe Awards.

Of course, the hot topic this year was who wasn't nominated. A lack of diversity generated boycotts and renewed the hashtag #OscarsSoWhite. People are waiting to see how host and comedian Chris Rock will address the controversy.

Hollywood stars and Vice President Joe Biden will present awards this year.