She may have been awarded the American Film Institute's 42nd Life Achievement Award last night, but all we could talk about was Jane Fonda's dress!

The 76-year-old wowed in a black-and-white Vera Wang gown and a dazzling assortment of diamonds to complete the look, easily making the seven-time Oscar nominee look 20 years younger!

But despite her excellent fashion taste, the primary focus of the evening was Jane's outstanding career and the amount of A-listers present echoed that praise.

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Meryl Streep gives a speech at AFI's Tribute to Jane Fonda

With friends like Michael Douglas, Meryl Streep and Sandra Bullock giving tributes, we couldn't help but agree with Michael's sentiment: "Jane, you are true film royalty, not through your birth, but through your talent."

Although she is the daughter of legendary actor Henry Fonda, the sixth recipient of AFI's Life Award, Jane has paved her own way in acting, as noted by her son, Troy Garity.

"She has fearlessly pursued a life to mark her existence, to prove her worth, and it makes sense that you found comfort in acting," Troy said to his mom.

"Being raised by you, intimately observing your commitment, I want to say to you here, in front of this great room of people, that in film, in fitness, in politics, in family, Mom, you have succeeded."

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Jane with her actor son, Troy Garity

Meryl, who made her film debut alongside Jane in 1977's Julia, told the room, "[Jane] had an almost feral alertness, like this bright blue attentiveness to everything around her," while Sally Field noted, "I saw her break away from her looks, refusing to let her face and her body define and confine her."

As Jane took the stage to accept the honor, she proudly exclaimed, "I'm so happy to add another woman's name to the list," and offered some advice to the people gathered.

“Ask questions, stay curious,” she told them. “It’s much more important to be interested than to be interesting.”