Demi Moore missed out on the Best Actress Oscar

The Hollywood legend was nominated for her role in The Substance but lost out to Anora actress Mikey Madison.

Emma Stone announced the winner at the awards ceremony on Sunday night, and Moore looked understandably heartbroken when Mikey Madison's name was called out.

Proving she's as gracious as ever, Moore penned a touching tribute to Madison on Instagram.

She reflected on award season and said it has been a total honour for her and a true career highlight.

Alongside a montage of clips from this year's award season, Moore wrote:

"This awards season comes to a close, I’m so overwhelmed with gratitude for this journey.

"It’s been the ride of a lifetime and we’re just getting started!" she wrote.

"So grateful for my team, my fellow nominees, and everyone who has made this experience so full of joy and light," the St. Elmo's Fire actress said.

"Thank you to the cast, crew, and fans of The Substance. It’s been such an honor to work alongside you, learn from you, and celebrate this film with you," she gushed.

"And a huge congratulations to Mikey Madison — can’t wait to see what you do next," she concluded.

The Substance star may not have won the Oscar, but her work in the film was recognised at the Golden Globes.

She also won Best Actress at the SAG Awards, and Critics Choice Awards.