Oscar night is full of star-studded parties, but there's one that draws all the big names — and for a good cause. 

For the past 23 years, the Elton John AIDS foundation Oscar-viewing party has been a mainstay side event of the Academy Awards.

John, and his Canadian husband David Furnish, will play host to some of the world's biggest stars in music, art, film and fashion on Sunday night.

"It's a whole cross-section of everybody from Hollywood," Furnish told CBC's Kim Brunhuber at the Four Seasons Hotel Los Angeles in Beverly Hills.

David Furnish

David Furnish, the Canadian spouse of international singing sensation Elton John, poses for a portrait at the Four Seasons Hotel Los Angeles at Beverly Hills on Feb. 19, 2015. (Kim Brunhuber/CBC News)

This year's guest list, includes Mike Myers, Eric McCormack, Heidi Klum, Steven Tyler and Miley Cyrus, to name a few.

Furnish says even after so many years, he still gets a bit nervous in the days leading up to the big event. "It's always a bit nerve-racking ... but we always manage to get it ready."

This year, the venue is decked out in purple and white decor accented with mirrors. The unique look is inspired by the glamorous excess of the disco era. Nile Rodgers, from classic disco band CHIC (Le Freak, Dance, Dance, Dance) will keep things bumping on the dance floor.

British celebrity chef Gordon Ramsay designed the menu for the evening.

The high-profile event has raised more than $45 million dollars (US) for the AIDS foundation in the past two decades.

David Furnish gives Kim Brunhuber a walk-through of party preparations in the video above.

How to watch

The 87th Academy Awards will be given out at the Dolby Theatre in Hollywood, Calif. on Sunday, beginning at 8:30 p.m. ET with the red carpet starting at 7 p.m. ET on ABC and CTV in Canada.

CBC arts team is on the ground in Hollywood and will be live blogging from the parties, the red carpet and behind the scenes all weekend.

Watch for full coverage, including photo galleries and all the winners, here on CBCNews.ca/arts.

CBC's film critic Eli Glasner will be live chatting with the CBC Community Team in the aftermath of the awards Monday starting at 12 p.m. ET.

With files from Kim Brunhuber