In fact, this marks DiCaprio's fifth nomination. So where did it all start?
DiCaprio, 41, first burst into the awards-circuit scene in 1994 when he was nominated for Best Actor in a Supporting Role for his portrayal as Arnie Grape in What's Eating Gilbert Grape. At just the age of 19, DiCaprio was the second youngest nominee of the year, next to Anna Paquin who was just 12 at the time.
"I'm excited, I really am," DiCaprio told Jay Leno on The Tonight Show ahead of the award ceremony. "I'm ready, I want to go – It's going to be cool."
The actor made his Oscars red carpet debut in style, keeping his look Hollywood-classic. He donned a sleek black tuxedo with a matching bow tie and a red ribbon tacked to his lapel. And of course, his iconic blonde locks were lose around his face.
DiCaprio was up against a handful of Hollywood heavyweights for the award, including Tommy Lee Jones, Ralph Fiennes, John Malkovich and Pete Postlethwaite.
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Although DiCaprio ultimately lost out to Lee Jones for his performance in The Fugitive, the young actor was still all smiles throughout the night.
Little did he know, this would merely serve as training for the Oscar pro. DiCaprio went on to earn a Best Actor nomination for The Aviator in 2005, Blood Diamond in 2007 and 2014's The Wolf of Wall Street.
Here's hoping this really is Leo's big year!