updated 11/29/2010 AT 12:00 PM ET
•originally published 11/29/2010 AT 1:00 PM ET
Hollywood’s biggest night is getting a double-dose of talent.
Franco has earned critical raves for his latest film, 127 Hours, the real-life story of outdoorsman Aron Ralston who cut off part of his arm after getting it stuck under a boulder. The actor’s resume includes diverse roles in Eat, Pray, Love, General Hospital, Milk and Pineapple Express.
Hathaway’s newest project is the much-hyped Love and Other Drugs in which she costars with Jake Gyllenhaal. She also showed off her singing and dancing chops when she performed a musical number with Hugh Jackman when he hosted the Oscars two years ago.