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The Grammy and Golden Globe award-winning singer and actress, who is up for two Oscars, wore a black Alexander McQueen strapless gown.
She accessorized with a jaw-dropping 128.54-carat Tiffany & Co. diamond. The stunning jewel has reportedly only been worn twice before -- last by Audrey Hepburn for a "Breakfast at Tiffany's" photo shoot.
"Released from the vault specifically for Lady Gaga, this marks the first time in history that the legendary Tiffany Diamond has graced an awards show red carpet," the brand said in an Instagram post.
"Appearing as if it is lit by an inner flame, the legendary cushion-cut yellow diamond has a unique 82 facets—24 more facets than the traditional 58-facet brilliant cut," another post revealed.
Along with her best actress and best song nominations, Gaga will perform the hit song "Shallow" with her "A Star Is Born" co-star Bradley Cooper at the star-studded award show.
Gaga has been pretty successful throughout the awards season so far.
The musical icon won for best original song and was nominated for best actress in a motion picture, drama at the 2019 Golden Globes.
She also won three Grammy awards earlier this month and tied Close for best actress at the Critics' Choice Awards.
In an interview with The New York Times at the time of her Oscar nominations, the Grammy and Golden Globe award-winning singer and actress explained that the recognition from the Academy goes beyond just herself.
“These are not Oscar nominations for me, these are Oscar nominations for the Germanottas,” she said, referencing her family name.
She was nominated for an Academy Award once before. Her hit "Til It Happens To You" from "The Hunting Ground" was nominated for best original song in 2016.