Last year's announcement went famously awry when Dunaway announced that "La La Land" won best picture, only for that film's producer to tell a shocked audience that the real victor was "Moonlight". When the mix-up was discovered, a La La Land producer welcomed the Moonlight crew to the stage to accept the award.
As we await the exciting awards ceremony, here is what we do know about the 2018 Oscars: Jimmy Kimmel is hosting for the second time, following last year's controversial Moonlight and La La Land mix up.
Instead, it's now been announced, the Best Actress award will be presented by Jennifer Lawrence and Jodie Foster, with Jane Fonda and Meryl Streep presenting the Best Actor award.
However, this year, no one had to blow up the envelopes to see what they said.
With new practices in place, it was hard for the Oscars to repeat last year?s best picture snafu - when "La La Land" was incorrectly announced as the victor.
In a moment of pure chaos, Jordan Horowitz, a producer of "La La Land", later set the story straight: "Moonlight" was the true victor.
After Mr. Beatty opened the envelope onstage, he hesitated. I'm afraid they read the wrong thing.
Stone is also set to present but, in a break with tradition, she won't be handing out Best Actor at the 90th Academy Awards.
In 2017, viewers were left horrified after La La Land was wrongly named as Best Picture, over Moonlight.
A year ago it was a much different story as the Bonnie And Clyde actors were at the center of an envelope mishap involving Academy Awards agency PriceWaterhouseCoopers which counts the votes.
Picking up the evening's biggest prize, Best Picture, the director dedicated the honour to up-and-coming movie makers.