Hollywood has never had a better style role model than Cate Blanchett. She takes fashion seriously, but never suffers for what-are-you-wearing fools on the red carpet. Furthermore, she respects a designer's craft, even flying to Milan to toast Giorgio Armani’s 40th anniversary. “When you develop genuine relationships,” she says, “it’s important to honor them.” These are just a few of the reasons why we're honoring Blanchett in our first-ever list of the 50 Best Dressed Women in Hollywood

Our favorite look of hers this year? Her choice to combine a humble black dress (OK, it was still couture by John Galliano for Maison Margiela) with Tiffany & Co. turquoise jewelry at the Oscars. It was downright dynamite. 

Watch the video above for more of Blanchett's best looks this year, and to see the full list of Hollywood's 50 Best Dressed, including the recipients of our first InStyle Awards, pick up the November issue of InStyle, available on newsstands and for digital download now.