Watch Oscar Nominations Live!
01/24/2012 AT 05:00 AM EST
Moneyball star Brad Pitt and The Descendants' George Clooney are among the most buzzed-about actors who will find out if they're nominated for an Academy Award, as will Michelle Williams for My Week with Marilyn and The Iron Lady's Meryl Streep.
Such films as The Artist and The Help are also in the running for Best Picture and other honors.
Jennifer Lawrence will announce the nominations at a 10-minute, 5:30 PT ceremony at the headquarters of the Academy of Motion Picture Arts and Sciences.
The 84th Annual Academy Awards will air live Feb. 26 at 7 p.m. ET on ABC from Hollywood's Kodak Theatre.