The first Academy Awards ceremony was held on May 16, 1929. It took place at the Hollywood Roosevelt Hotel in Los Angeles, California, and it was the only Academy Awards ceremony not broadcast on either radio or television. This inaugural event honored the best films of 1927 and 1928, with a relatively small, private audience of approximately 270 guests. The ceremony lasted about 15 minutes, with entrance tickets at $5.

The first-ever "Best Picture" winner was "Wings," a silent film directed by William A. Wellman. Actress Janet Gaynor won the first "Best Actress" award for her performances in three films: "Seventh Heaven," "Street Angel," and "Sunrise." Emil Jannings won the first "Best Actor" award for his roles in "The Last Command" and "The Way of All Flesh."