Guillermo del Toro's "The Shape of Water", which tells the story of a custodian who falls in love with a half humanoid, amphibious creature, took home the "best film" award. Then Guillermo Del Toro was honored for his directorial prowess with an Oscar for Best Director for "The Shape of Water".
Some other notable wins include "Coco" which won for Best Original Song with "Remember Me" and Best Animated Feature Film; Gary Oldman won Best Actor in a Leading Role for Darkest Hour; Frances McDormand won Best Actress in a Leading Role for "Three Billboards Outside Ebbing, Missouri".
This marks the second occasion on which he has beaten the statistical odds: It's only the fifth time in the past 25 years that Oscar has rewarded a previous victor; voters generally prefer to give the gold to first-timers. And my kids. And I wanna say, like Jimmy Cagney said once, 'My mother thanks you, my father thanks you, my brothers and sisters thank you.
'My fellow nominees, you represent everything that is good and right and human about this profession.
During his speech in which he scooped Best Director award the Mexican mentioned the screenwriter but failed to thank his estranged wife.
"So we were committed to using those people all across the board on the film and we think it's a great moment for Canadian filmmaking".
Villeneuve also got a shout-out onstage from Roger Deakins as he accepted the Oscar for best cinematography on "Blade Runner 2049".
Director Ava DuVernay, Salma Hayek, Kumail Nanjiani and others spoke in a video segment about progress in smashing barriers in the industry around racism and sexism.
According to The Wrap, XenoCat Artifacts - the company behind the unlicensed erotic memorabilia inspired by The Shape of Water - put 28 more units up for sale the day before the Oscars, and in 20 minutes, they were gone.
Traditionally, the previous year's best actor victor would present that statuette, but Casey Affleck, who triumphed in 2017 for "Manchester by the Sea", withdrew under a cloud of sexual harassment accusations he denies.
Jordan Peele made history as the first African-American to earn an Oscar for best original screenplay, winning for his script to "Get Out", a box-office smash he also directed.
In a surprise turn of events, Beatty and Dunaway were tapped to present the same prize this time around and the presentation went without a hitch.