Larson beats Blanchett for actress Oscar

Cate Blanchett has been unable to add to the record Australian Oscar haul at the Academy Awards, beaten by Brie Larson in the best actress category.

Cate Blanchett was beaten by Brie Larson (Pic) in the best actress category at the Academy Awards. (AAP)

Australian actress Cate Blanchett has two Oscars, but she was unable to add a third to her tally at this year's Academy Awards for her film Carol.

As expected short-priced favourite Brie Larson, for Room, won the best actress Oscar.

Despite Blanchett's miss, it was a huge night for Australia with Mad Max: Fury Road scoring big, with eight of its Australian crew members winning Oscars on Sunday at Hollywood's Dolby Theatre.