Jessica Alba looks elegant at the BAFTA awards.

The Hollywood Issue of Vanity Fair features the hottest young Hollywood stars!

For our 17th annual Hollywood Issue cover, Vanity Fair went back to the basics—no teenagers, no penguins, no (full-on) nudity, just the most exciting actors and actresses of the moment. Anchoring the front panel are Oscar co-hosts Anne Hathaway and James Franco (himself a best-actor nominee), along with Ryan Reynolds and Jake Gyllenhaal, two of the most versatile, likable (and, yes, good-looking) leading men in Hollywood

Actress Amy Adams arrives for the 22nd Annual Producer’s Guild Awards at Hotel Beverly Hilton in Beverly Hills.

“The Fighter” star wore Andrew Gn Spring 2010 long sleeved dress and was super sexy with a plunging neckline.

That jeweled butterfly detail at the waist adds some oopmh to her look.

I am glad she’s starting to regain her confidence on the red carpet.

Amy added black satin Christian Louboutin peep toes and a Kotur clutch to complete her look.

Actress Chloe Sevigny arrives for Hugo by Hugo Boss fashion show during the Mercedes-Benz Fashion Week in Berlin.

Sevigny attended the Hugo Boss Fall 2011 fashion show during Mercedes Benz Fashion Week in Berlin yesterday.

She looked great wearing a tailored suit jacket, a black skirt, and black suede ankle boots by Hugo Boss.

Chloe completed her look with a lavender flower brooch, black tights, and a black handbag.

Actress Piper Perabo arrives at the 68th Golden Globe Awards presented by the Hollywood Foreign Press Association at Hotel Beverly Hilton in Beverly Hills.

She looked sophisticated wearing a black sleeveless gown from the Oscar de la Renta Spring 2011 collection.

Piper added a small clutch by Judith Leiber and wore a rich red lip shade for a pop of color.

She finished her look with heels by Christian Louboutin and jewelry by Bvlgari.

Actress Claire Danes arrives at the 68th annual Golden Globe Awards in Beverly Hills.

Claire looked simple and sophisticated wearing a pink halter gown by Calvin Klein Collection.

Claire accessorized with earrings and a bracelet both by Fred Leighton.

Actress Rachel McAdams attends the premiere of “Morning Glory” at Empire, Leicester Square in London on January 11.

She took a daring step and wore a revealing and deep v-neck printed dress by Suno. Rachel added color to her look with gorgeous purple satin heels by Charlotte Olympia.

Selena Gomez shows off her figure at the 2011 People’s Choice Awards.

Angie Harmon at the Nomination Announcement for the 2011 Screen Actor’s Guild Awards at Silver Screen Theater – Pacific Design Center in West Hollywood.

She looked divine wearing a Carolina Herrera Spring 2011 colour-block dress with a lace yoke.

It’s a chic look. She totally working and owing this look.

Black pumps and loose ponytail completed her look.

Maria Menounos arrives at Spike TV’s 2010 Video Game Awards held at the LA Convention Center on December 11.

The sexy brunette was sporting blonde hair at the show and mixed it up with some heavy metal!