Cate Blanchett’s Oscar hopes have strengthened after winning an achievement award at the Palm Springs International Film Festival.

The actress, who has generated plenty of buzz with her performance as an older lesbian alongside Rooney Mara in the film Carol, accepted the award from young actress, Saoirse Ronan.

Once onstage Blanchett joked around with Ronan, saying “Thank you, Saoirse, you can get off the stage now. You’re too young, talented and gorgeous. It’s all me.”

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Johnny Depp also accepted the achievement award for an actor for his performance in Black Mass, while Matt Damon was given the chairman’s award for his work in The Martian.

Actress Brie Larson won the breakthrough award for her performance in the adaptation of Emma Donoghue’s novel, Room, while Michael Fassbender paid tribute to his Steve Jobs co-star, Kate Winslet.

If Blanchett doesn’t manage to bring home the best actress Oscar gong next month, she will still have her two previous awards to keep her company – having won best supporting actress for The Aviator in 2004 and best actress for Woody Allen’s Blue Jasmine in 2013.

Aside from golden girl Blanchett, Australia’s best hope for the 2016 Oscars is the Mad Max reboot, Mad Max: Fury Road, directed by George Miller.

The film not only won the hearts of the public, taking $375 million at the box office, but also made many film critic’s best-of lists for the 2015.

The 2016 Oscar’s nominations will be announced on January 14, with the official ceremony held on February 28.