The 18th Academy Awards were held on March 7, 1946, at Grauman's Chinese Theatre to honor the films of 1945. Being the first Oscars after the end of World War II, the ceremony returned to the glamour of the prewar years; notably, the plaster statuettes that had been used during the war were replaced by bronze statuettes with gold plating and an elevated base.

Despite the optimistic postwar mood, director Billy Wilder's grim and socially significant drama The Lost Weekend won the major awards of Best Picture and Best Director, as well as two other awards. It was the first film to win both Best Picture and the Palme d'Or at the Cannes Film Festival. Best Actress nominee Joan Crawford was absent due to illness.

This was the first year in which every film nominated for Best Picture won at least one Oscar, and also the first time a sequel (The Bells of St. Mary's) was nominated for Best Picture.

Nominations announced on January 27, 1946. Winners are listed first and highlighted in boldface.