The French-American romantic comedy/drama film which was set to be in the 1920s also bagged four other awards, including Best Actor for Jean Dujardin, Best Original Score, Best Costume Design, and Best Director for Michel Hazanavicius.
Most-nominated Academy actress ever (17 nominations) Meryl Streep won the Best Actress award for her role as former British Prime Minister Margaret Thatcher in "The Iron Lady". Streep's win is her third Oscar.
"Hugo" meanwhile also received 5 awards including Best Sound Editing, Best Sound Mixing, Best Cinematography for Robert Richardson, Best Art Direction, and Best Visual Effects. The Martin Scorsese-directed film received the most Oscar nominations (with 11) this year.
Christopher Plummer, who won Best Supporting Actor for romantic comedy-drama film "Beginners", became the oldest actor to receive an Oscar award. He is 82.
Octavia Spencer was this year's Best Supporting Actress for her role as the outspoken maid in "The Help".
Here is the full list of the winners in the 2012 Oscars.
Actress in a Leading Role: Meryl Streep, The Iron Lady
Actor in a Leading Role: Jean Dujardin, The Artist
Directing: Michel Hazanavicius, The Artist
Animated Short Film: The Fantastic Flying Books of Mr. Morris Lessmore
Documentary Short Subject: Saving Face
Live Action Short Film: The Shore
Original Screenplay: Midnight in Paris, Written by Woody Allen
Adapted Screenplay: The Descendants, Screenplay by Alexander Payne, Nat Faxon and Jim Rash
Original Song: "Man or Muppet," The Muppets; Music and Lyric by Bret McKenzie
Original Score: The Artist, Ludovic Bource
Actor in a Supporting Role: Christopher Plummer, Beginners
Visual Effects: Hugo
Animated Feature Film: Rango
Documentary Feature: Undefeated
Sound Mixing: Hugo
Sound Editing: Hugo
Film Editing: The Girl With the Dragon Tattoo
Actress in a Supporting Role: Octavia Spencer, The Help
Foreign Language Film: A Separation (Iran)
Makeup: The Iron Lady
Costume Design: The Artist
Art Direction: Hugo