Quvenzhané Wallis walked the Oscar red carpet in style on Sunday afternoon.

Wallis could become the second African-American ever to win an Oscar in the best actress in a leading role category. (Halle Berry made Academy Award history in 2002 as the first African-American woman to win the best-actress award.)

Just two-hours before Wallis hit the red carpet, Sony Pictures confirmed she will star as Annie in the new film based on the "Little Orphan Annie" comic strip.

"With the recent Academy Award nomination and critical acclaim, Quvenzhané Wallis is a true star and we believe her portrayal as Annie will make her a true worldwide star," Hannah Minghella, president of production for Columbia, said in a statement. "She is an extraordinary young talent with an amazing range, not only as an actress but as a singer and dancer, and we can't wait for audiences to further discover her."

James Lassiter, Jada Pinkett Smith, Will Smith and Shawn "Jay Z" Carter are signed on as producers, according to Deadline.com.