The Academy Award for Best Picture is one of the Academy Awards of Merit presented annually by the Academy of Motion Picture Arts and Sciences (AMPAS) to artists working in the motion picture industry. The Best Picture category is the only category in which every member of the Academy is eligible not only to vote on the final ballot, but also to nominate. During the annual Academy Awards ceremony, Best Picture is reserved as the final award presented and, since 1951, is collected at the podium by the film's producers. The Academy Award for Best Motion Picture is considered the most important of the Academy Awards, as it is the final award presented, and represents all the directing, acting, music composing and writing efforts put forth for a film. The Grand Staircase columns at the Kodak Theatre in Los Angeles, where the Academy Awards ceremonies have been held since 2002, showcase every film that has won the Best Picture title since the award's inception 83 years ago. On June 14, 2011, AMPAS announced that the number of nominees would vary between five and ten films starting with the 2012 ceremony, provided that the film earned 5% of first-place votes during the nomination process.

An Academy Award is an award bestowed by the American Academy of Motion Picture Arts and Sciences (AMPAS) to recognize excellence of professionals in the film industry, including directors, actors and writers. The Oscar statuette is officially named the Academy Award of Merit and is one of nine types of Academy Awards.

The formal ceremony at which the Awards of Merit are presented is one of the most prominent award ceremonies in the world, and is televised live in more than 100 countries annually. It is also the oldest award ceremony in the media; its equivalents, the Grammy Awards (for music), Emmy Awards (for television), and Tony Awards (for theatre) are modeled after the Academy.

The AMPAS was originally conceived by Metro-Goldwyn-Mayer studio boss Louis B. Mayer as a professional honorary organization to help improve the film industry’s image and help mediate labor disputes. The Oscar itself was later initiated by the Academy as an award "of merit for distinctive achievement" in the industry.