Essence Women in Hollywood Event - LEAD
Credit: Kevin Mazur/WireImage; Jesse Grant/Getty; Kevork Djansezian/Getty

On the heels of the release of this year's Oscars nominations, Essence has just revealed which stars it will honor for its annual Black Women in Hollywood Awards, which is held the week of the Academy Awards.

The Awards and Gala, hosted by Gabrielle Union, will spotlight Hollywood's Next Generation, the women who are excelling and elevating their crafts, including Hidden Figures star Janelle Monáe, Awkward actress and creator Issa Rae, How to Get Away with Murder's Aja Naomi King, and Black-ish star Yara Shahidi.

"For the past decade, the Essence Black Women in Hollywood Awards have paid homage to our modern image-makers—both in front of the camera and behind the scenes," Essence Editor-in-Chief Vanessa K. De Luca said in a statement.

"This past year has been an exceptional one for diversity in film and television, and with the incredible contributions of Janelle, Issa, Aja and Yara, it is fitting that our 10th anniversary will honor the future of Hollywood and its continued steps on the path to inclusion."

Last year, the Black Women in Hollywood awards were presented to Black-ish star Tracee Ellis Ross (Fierce & Fearless award), veteran actress turned producer-director Debbie Allen (Legend award) and entertainment attorney Nina Shaw (Lincoln Power award).

VIDEO: Yara Shahidi Talks Beauty with Essence

To commemorate the 10th anniversary of the event, the magazine will shift its daytime luncheon to an evening gala for the first time, with the fête returning to the Beverly Wilshire Hotel in Beverly Hills, Calif. on Feb. 23.