06/12/2014 02:30 EDT | Updated 06/12/2014 02:59 EDT

Cate Blanchett Gets Frilly With It At Women In Film Awards

Jason LaVeris via Getty Images
CENTURY CITY, CA - JUNE 11: Actress Cate Blanchett attends the Women In Film 2014 Crystal + Lucy Awards at the Hyatt Regency Century Plaza on June 11, 2014 in Century City, California. (Photo by Jason LaVeris/FilmMagic)

Cate Blanchett is a red carpet goddess.

The 45-year-old actress attended the Women In Film 2014 Crystal + Lucy Awards in Los Angeles on Wednesday night (June 11) looking every inch the stylish icon she is.

The Oscar winner wore a cream-coloured Chloe dress with cascading ruffles and a high neckline. She kept her makeup very simple, with a peachy nude lip and some eyeliner on her top lids. Her hair was styled in a sleek, side-parted updo with a braid at the back.

The star added a pop of colour with her turquoise and diamond Lorraine Schwartz statement earrings, and finished off the ensemble with a pair of flat, metallic sandals, proving that it's possible to rock flats with a formal gown (take note, Shailene Woodley).

The overall look is just so effortlessly pretty on the Academy Award winner. (But really, does she ever have a bad moment on the red carpet?)

During the ceremony, Blanchett, along with fellow actresses Eva Longoria and Kerry Washington, was honoured by Women In Film for her career achievements. When she accepted the honour, the "Blue Jasmine" actress urged women to take more risks in their film roles and overcome the fear that they can't fail.

And if one thing's for certain, we know Blanchett is definitely a risk taker both on and off-screen (which makes for some pretty great fashion choices).

What do you think of her Chloe dress?