Colin Firth & Livia Giuggioli - Oscars 2012 Red Carpet

Colin Firth holds his wife Livia close at the 2012 Oscars held at the Hollywood & Highland Center on Sunday (February 26) in Hollywood.

Colin, 51, chose a classic black tuxedo, while Livia wore a custom Valentino red gown.

PHOTOS: Check out the latest pics of Colin Firth

Tonight, Colin will be presenting an award on stage! Last year, Colin won his very own Academy Award for his work in The King’s Speech.

Billy Crystal hosts the 2012 Oscars live TONIGHT at 8:30 p.m. ET/5:30 p.m. PT on ABC!