Actress Charlize Theron, wearing a Dior gown and $15 million worth of Harry Winston diamonds, arrives at the 86th Academy Awards in Hollywood./REUTERS

Sean Penn and Charlize Theron are not hiding their relationship from the world anymore. They walked their first Oscars red carpet together on the important night of March 2 and were seen making out on Madonna's Oscars After Party. It was not that a long time ago when the two A-list actors left the airport separately even though they touched down in Los Angeles together after spending the weekend before New Year's Day in Hawaii.

Even though their dating status has been confirmed prior to the Oscars, where they are seen here there and about, none could have cinched their couple status as walking the red carpet together for the first time. They did not stray far from each other during the event and they went to Madonna's Oscar After party together. The irony of this is not lost on anyone. Everyone knows Madonna and Sean Penn were once married, but that part of the history is long done, or is it?

After all, it is also not that a long time ago when rumors sparked that Sean Penn and Madonna are back together again. Moreover, the Material Girl's close pal Debi Mazar recently shared that Penn is still Madonna's "one true love." Over the years, Penn has also shown consistent support for his ex-wife at concert performances, and they worked together in Haiti on a humanitarian project.

Aside from walking their first carpet together in the 86th Academy Awards, both looking dashing and radiant, Penn and Theron also could not keep their hands off each other during the After Party hosted by the Pop Legend, Madonna. In fact, those who have seen it claimed that they were doing heavy PDA.

Penn and Theron, were "making out like crazy" and "all over each other" on the dance floor, a party observer shared to Us Weekly. "They were the talk of the party -- even Madonna noticed!" However, if she was even a little bit jealous, Madonna did not show it.

Regardless of what Madonna might have thought or felt, she can console herself for throwing yet again one of the best Oscars after party. Per tradition, the Queen of Pop threw her annual celeb-filled post-Oscars bash last night at her manager Guy Oseary's house according to E! Online. Present at the party were huge names such as Julia Roberts, Nicole Richie and Joel Madden, Brad Pitt and Angelina Jolie, Miley Cyrus, John Travolta, Kelly Preston, Tom Ford, and Oscars host Ellen DeGeneres with wife Portia De Rossi.