Oscar Nominations 2016 Announced Live

PHOTO: A general view of the red carpet at the Oscars held at Hollywood & Highland Center, March 2, 2014, in Hollywood, Calif.PlayKevork Djansezian/Getty Images
WATCH 'The Revenant' Leads With 12 Academy Award Nominations

It's a huge day for film stars in Hollywood.

Oscar nominations will be announced this morning, and you can watch them right here.

Directors Guillermo del Toro and Ang Lee will kick off the festivities at 8:30 a.m. ET, presenting the nominees in 12 categories: Animated Feature Film, Cinematography, Costume Design, Documentary Feature, Documentary Short Subject, Makeup and Hairstyling, Original Song, Animated Short Film, Live Action Short Film, Sound Editing and Sound Mixing.

Then, at 8:38 a.m. ET, actor John Krasinski and Academy President Cheryl Boone Isaacs will announce the other 12 categories: Best Actor, Best Actress, Best Supporting Actor, Best Supporting Actress, Directing, Film Editing, Foreign Language Film, Original Score, Best Picture, Production Design, Visual Effects, Adapted Screenplay and Original Screenplay.

The Academy Awards will take place on February 28, 2016 at the Dolby Theatre at the Hollywood & Highland Center in Hollywood, Calif. It will be televised live on ABC at 7 p.m. ET/4 p.m. PT.