Cate Blanchett, Miley Cyrus and George Clooney are expected to walk the red carpet Sunday at the Kodak Theater for the show (airing on ABC, 8 p.m. EST/ 5 p.m. PST) – as will Nicole Kidman and Patrick Dempsey, who are among the night's presenters.
As for nominees, Clooney and Daniel Day-Lewis lead the Best Actor category, though the Michael Clayton star says he's not expecting to nab the prize. "I thought Daniel Day-Lewis had the best performance of the year," he told Time magazine. There Will Be Blood's Day-Lewis has already picked up a number of prizes, including a Screen Actor's Guild Award.
In the Best Actress category Blanchett (Elizabeth The Golden Age) will face off against Marion Cotillard (La Vie en Rose), Julie Christie (Away from Her), Laura Linney (The Savages) and Juno's Ellen Page.
Blanchett is also nominated as Best Supporting Actress for her gender-bending role in I'm Not There. In that category, the competition also includes Michael Clayton's Tilda Swinton, Gone Baby Gone's Amy Ryan, American Gangster's Ruby Dee and Atonement's young star, Saoirse Ronan.
Up for Best Picture, No Country for Old Men will battle it out against Juno, Atonement, Michael Clayton and There Will Be Blood.
During the telecast, which will be helmed by Daily Show host Stewart, Amy Adams will perform Best Song nominee "Happy Working Song," while Kristin Chenoweth and Marlon Saunders will perform "That's How You Know," both from Enchanted – as is "So Close," to be sung by Jon McLaughlin.
One casualty this year, though: the annual Vanity Fair Oscar viewing party, which was canceled last month.