The Oscar winner, who is known for her fashionable red carpet looks, didn't disappoint as she attended the ceremony in Madrid wearing a a sheer panelled Gucci dress, which featured a dark red velvet flower across the chest.

Inside the event, Gwyneth, 44, also showed off her language skills, as she delivered her acceptance speech in fluent Spanish, much to the delight of the audience, which included guests Elizabeth Hurley, Penelope Cruz's sister Monica, and U.S. socialite and reality star Olivia Palermo.

The Shakespeare In Love star, who is dating TV producer Brad Falchuk, later took to Instagram to show off her outfit and express her gratitude to her Spanish host and date to the Style Awards, U.S. Ambassador to Spain James Costos.

Alongside a photo of the pair, she wrote, "Thank you, Ambassador for a quick and amazing stay in #madrid and for being such a handsome date."