Gigi Hadid is red hot in an off-shoulder skintight gown at the Vanity Fair Oscar Party - Daily Mail

Gigi Hadid had all eyes on her as she stepped out on the red carpet at the Vanity Fair Oscar Party held at the Wallis Annenberg Center in Beverly Hills on Sunday.

The outing comes after she recently reignited rumors of a romance with Leonardo DiCaprio, when she was spotted exiting a pre-Oscars party in Los Angeles earlier on Friday evening, where the The Wolf of Wall Street actor, 48, was also in attendance.

Jessica Rabbit vibes: Gigi Hadid had all eyes on her as she stepped out on the red carpet at the Vanity Fair Oscar Party held at the Wallis Annenberg Center in Beverly Hills on Sunday

Other celebrities at the soiree included Jennifer Coolidge, Olivia Wilde, Naomi Watts, Sarah Paulson, Jon Hamm and fiancée Anna Osceola, Kyra Sedgwick and Kevin Bacon among others.

Gigi appeared to be in good spirits after recently attending the same party as Leo, where the two stars, 'were together nearly the entire night,' while also trying to 'stay low key' as per People.

The model had dated the former One Direction member on and off since 2015, until their official split in October 2021 after an alleged altercation that took place between the singer and Gigi's mother, Yolanda Hadid.