Avatar had nine Oscar nominations as the ceremony began, but came away with only three awards.
The 3D spectacular won technical awards for art direction, cinematography and visual effects.
It was Kathryn Bigelow who swiped the acclaimed Best Director award for the film Hurt Locker, and she's the first woman in history to win that Oscar.
The nominated Brits Colin Firth and Carey Mulligan lost out on the Best Actor and Best Actress awards.
The hand signal shows which film won Best Animation... UP!
Sandra Bullock won Best Actress on her first nomination ever, and Jeff Bridges snatched up Best Actor on the fifth time he was nominated.
UP won the Best Animation Oscar... and its director Pete Docter looked very pleased about it!