The following year , this unwieldy and confusing system was replaced by the current system in which an actress is nominated for a specific performance in a single film . Starting with the 9th ceremony held in 1937 , the category was officially limited to five nominations per year . One actress has been nominated posthumously , Jeanne Eagels . Since its inception , the award has been given to 76 actresses . Katharine Hepburn has won the most awards in this category , with four Oscars . With 17 nominations , Meryl Streep is the most nominated in this category , resulting in two wins . As of the 2019 ceremony , Olivia Colman is the most recent winner in this category for her portrayal of Anne , Queen of Great Britain in '' The Favourite ''
9th ceremony
9th Academy Awards
Academy Award for Best Actress