And there will be no fashion mishaps with Wilde tonight! If you look carefully at the dress, you can see a sheer panel that's keeping Wilde's couture cleavage perfectly in place.
"You gotta do that!" the 31-year-old actress said of the dress' nude netting. "Come on. No risks tonight!"
The dress, which is hot off the runway from Valentino's Spring collection, is also backless which allows Wilde to show off her incredibly toned physique.
Wilde, who produced the Oscar-nominated documentary, Body Team 12, admitted that it feels "totally surreal" to be a potential winner at Hollywood's biggest night.
"I have to say, it's a good feeling here," she gushed. "I think everyone's relieved that this marks the end of awards season! There's just a nice vibe. I'm really honored to be here as a presenter and a producer of a nominated short. It's just wild." Ha! We see what you did there, Wilde…
"I'm just so lucky, and I'm so aware of how many mothers around the world aren't so lucky and how difficult it is to have a healthy pregnancy and raise healthy children," Wilde revealed. "So every day when I look at him I feel I've won that lottery over and over again. And it inspires me to be a responsible human and try to do something good."
Press play on the video below to hear Olivia Wilde gush even more about her baby boy!