The Academy Awards are not only handed out to some of the best and most talented actors, actresses, directors and producers in the world but they’re also a chance for some of Hollywood’s hottest stars to rock the red carpet and model stunning gowns and suits from the world’s top fashion designers.

This year, the best dressed list of stars outweighs the worst dressed list almost 2 to 1. In our list of best-dressed we have a whopping 10 ladies who made the cut and only 5 losers gracing our worst dressed list. So let’s get right into it:

Best Dressed at the 2010 Oscars

The 10 ladies topping our best dressed list of 2010 include Amanda Seyfried in a gorgeous Armani Prive floor-length off-white gown, Anika Noni Rose in a jewel-busted cream gown that literally lit up the red carpet, Sandra Bullock who dazzled in a light gold, jeweled dress, Demi Moore who looked subtly sexy in a ruffled light coral number, Helen Mirren who donned a perfectly age-appropriate strapless gown in a body that would rival any woman in her twenties, Kate Winslet won looked chic and sexy in a figure-flattering silver floor-length gown and Queen Latifah who rocked a light purple pastel number with jeweled detailing around the bust.

Rounding off our list at #3 is Twilight star Kristen Stewart who shocked everyone last night in a feminine deep navy strapless gown. #2 on our list belongs to the amazing Meryl Streep who looked fresh and glowing in a white, full-sleezed, floor-length gown and a white clutch. Landing in on our top spot for the 2010 Oscars best dressed is none other than Penelope Cruz who looked smashing in a deep red, gorgeous strapless gown.

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Worst Dressed at the 2010 Oscars

While many women rocked the red carpet, there are always a few that can’t seem to get it right. This year those women include Zoe Saldana who’s gown looked more appropriate for a high school prom than a coveted awards show, Carey Mulligan who looked like a 12-year-old boy wearing an unflattering woman’s gown, Charlize Theron who might as well have worn two bulls eyes on her tatas and nothing else last night and Vera Farmiga who obviously has yet to learn the meaning of less is more.

The special lady who stole the top spot of worst dressed on our Oscar 2010 list is none other than country songstress Faith Hill who’s black, floor-length gown and thigh-high slit looked more appropriate for working the corner than it did the red carpet.

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Sorry ladies, better luck next year.

We’re sure you have lots of opinions on who we chose for best and worst dressed this year. So go ahead, leave your comments below!