It is considered one of the best movie musicals of all time and brought us such trademark phrases as "There's no place like home" and "I'll get you my pretty, and your little dog too!"
Now, 75 years after the release of The Wizard of Oz, the Academy paid tribute to the classic 1939 film whose message of hope and family still resonates today.
Though they did not perform, Judy Garland's children, Liza Minnelli (and her blue hair!), Joey Luft and Lorna Luft, were in the audience to honor one of their mother's greatest works.
Pop singer Pink was chosen to serenade the crowd with the movie's most memorable song, "Somewhere Over the Rainbow," as scenes from the award-winning film flashed behind her.
She also wore a gorgeous, sparkly red dress that evoked memories of Dorothy's famous ruby red slippers. Though some had their doubts, Pink impressed with her unbelievable vocals on the timeless classic.
And of course, host and comedian Ellen DeGeneres couldn't let this opportunity pass without a joke, appearing onstage as Glinda the Good Witch, complaining she had missed the call time to perform. Oh well, there's always the film's 80th anniversary celebration, Ellen!
In case you missed it, watch Pink's full performance below!