Blanchett played Jasmine, a formerly wealthy woman who moves in with her sister after the break-up of her marriage. (Agencies)
The actress has essayed the role fluidly despite its complexities, and Blanchett, in her acceptance speech said the film with "extraordinary screenplay", has been a "synthesis of my theatre work".
She acknowledged the work of all the best actress nominees this year - Amy Adams ('American Hustle'), Sandra Bullock ('Gravity'), Judi Dench ('Philomena') and Meryl Streep ('August: Osage County').
Apart from Dench, all the ladies were present at the dazzling gala, but Blanchett applauded the veteran for having a flourishing career even at the age of 78.
"Judi Dench - what a career! Her film did so well that she is in India doing a sequel to it ('The Best Exotic Marigold 2')," said Blanchett.
Dench is in Rajasthan to shoot the movie, which also stars Richard Gere.
Blanchett played Jasmine, a formerly wealthy woman who moves in with her sister after the break-up of her marriage.