The 40-year-old singer is recognized for her original song in the film 'King Richard.'
Beyoncé earned the nod for her song, "Be Alive," which she co-wrote with Dixson for the biopic King Richard, about the life of Venus and Serena Williams' father, Richard Williams.
While on Jimmy Kimmel Live in November, Serena spoke about approaching Beyoncé, whom she's collaborated with in the past, about doing the original song for the movie.
"When the film came out, there was no other person that could do this song except for Beyoncé. I feel like we've had a similar path in our lives. We've trained since an early age to reach a goal," the tennis pro shared. "For us it was really only one answer, and she embraced that. There was no doubt in her mind that it belonged to her as well. The original song is amazing, and I love it."
King Richard scored six Oscar nominations, including Best Picture and Best Actor for Will Smith as Richard Williams.
Though this is Beyoncé's first Oscar nomination, she's previously been nominated for six Golden Globe Awards.