Jared Leto arrives at the 86th Academy Awards nominees luncheon in Beverly Hills
IN PHOTO: Best actor in a supporting role nominee Jared Leto arrives at the 86th Academy Awards nominees luncheon in Beverly Hills, California February 10, 2014. REUTERS/Mario Anzuoni REUTERS/Mario Anzuoni

It's the time of the year again where Hollywood's A-list celebrities are coming together to celebrate the industry's best of the best. The Sunday's 86th Academy Awards will house Tinseltown's most successful stars who are vying for an award for this year's Oscars on March 2 at the Dolby Theater in Hollywood, Los Angeles.

According to GoldDerby.com, Steve McQueen's "12 Years A Slave" is leading the Best Picture category beating eight nominees including "American Hustle" and "Gravity." Director Alfonso Cuaron of "Gravity" is leading the Best Director with 30 experts voting for his victory and "Her" is leading the "Best Original Screenplay."

According to some Oscars' experts, the film editing category may seem a minor award but often times it showcases Best Picture winners. The 2014 Oscars Best Editing category includes three of Best Picture nominees: "Captain Philips," "Dallas Buyers Club" and "Gravity."

The Huffington Post also has their own predictions and "12 Years A Slave" is leading the awards for Best Picture category. Based on a true to life events, "12 Years A Slave" is a heart-wrenching story of volatile race relations in the United States that addresses the hard reality of slavery.

Matthew McConaughey is leading for Best Actor nomination against Christian Bale of "American Hustle" and 'Wolf of Wall Street" Leonardo DiCaprio. Australian actress Cate Blachett is also making waves for Best Actress category for her performance in "Blue Jasmine."

After winning the Best Supporting Actor award in 2014 Golden Globes, "Dallas Buyers Club" star Jared Leto is the favorite pick for 2014 Oscars Best Supporting Actor. Last year's winner for Best Actress Jennifer Lawrence is making a comeback but this time in the Best Supporting Actress category for her role in "American Hustle."

Based on the predictions of the website, "Gravity's" director Alfonso Cuaron is the Best Director thanks to his intense filming and amazing story-telling skills. Other nominees running for the post includes David O. Russell for "American Hustle," Martin Scorsese for "The Wolf of Wall Street," and "Nebraska's" Alexander Payne.