The former Miss World, 33, who rose to fame internationally with last year's ABC thriller "Quantico", opted for Lebanese designer Zuhair Murad's piece for presenting the best editing Oscar.
She chose to keep her look minimal in a neat pony tail and diamond accessories.
National-award winning designer Neeta Lulla tweeted, "Looking lovely and graceful @priyankachopra at the Oscars. Congratulations for your achievements. God bless."
"Isn't she lovely tonight? @priyankachopra wearing #zuhairmurad couture #redcarpet #Oscars2016," Murad asked his fans on the micro-blogging site.
Veteran actor-director Kamal Haasan wrote, "Priyanka looks confident & lovely. The top of my favourite actors list has Tom Hardy's name on it. Keep rocking Tom."
Lauding her outing, Anupam Kher tweeted, "Congratulations @priyankachopra for being probably the first Indian to present an award at #Oscars. You are the Best. #kuchbhihosaktahai."
"So underwhelmed by the #OscarsRedCarpet this year but our girl @priyankachopra is a stunner! @ZMURADofficial," actress Sophie Choudry tweeted.
Chopra has been making mark on red carpet this awards season.
At the People's Choice Awards in January (where she received the award for best actress in a new television series), the Indian actress sparkled in a sequined take on the colour block trend by Vera Wang.
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