Check out all the stars who have arrived in L.A. so far ... posing for the cameras as they head inside and grab their seat, and flexing their outfits. As you can see, just about all the hotshots -- namely, the actors who are nominated -- went with fairly classic looks.

Dudes in black and white tuxes ... and the ladies are in gorgeous gowns of varying color. Must say, everyone's dressed to impress -- and the aesthetic is certainly Oscar worthy.

As for who's made their showcase at this point ... Austin Butler, Angela Bassett, Jamie Lee Curtis, Brendan Fraser, Ana de Armas, Kerry Condon, Stephanie Hsu, Jonathan Majors, Danai Gurira, Zendaya, Sandra Oh, Florence Pugh, Elizabeth Olsen, Paul Mescal, Paul Dano, Julia Louis-Dreyfus, Sigourney Weaver, Halle Bailey, Idris Elba, Antonio Banderas and more.

Some of these folks are up for actual Oscars, but a vast majority of them are presenting tonight's awards. There are at least 40 A-listers who've been tapped to hit the stage and hand out statuettes ... so Dolby is going to be absolutely packed with talent everywhere.

The odds-on favorite to make a clean sweep in just about every category is 'Everything Everywhere All at Once' -- with Michelle Yeoh and Ke He Huy Quan leading the charge. They just got there in person ... but are quite clearly the beloved Oscar darlings this season.

There's a lot to look forward to, but the one thing that just about everyone is waiting to see is how host Jimmy Kimmel addresses last year's Oscars slap ... which he's said he'll do.

We're just under an hour out from showtime, and there's more celebs rolling in by the minute. The stage is set, and the champagne-colored carpet is rolled out/being trotted on.