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Gwyneth Paltrow takes the plunge in daring low cut black gown as she is honoured at InStyle Awards

Published: 23:15 EST, 26 October 2015 | Updated: 09:19 EST, 27 October 2015

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She was being honoured with the Style Icon award.

And Gwyneth Paltrow definitely lived up to that title as she walked down the red carpet of the InStyle Awards on Monday night.

The 43-year-old actress proudly put her svelte figure on display in a very low cut black gown while making her way down the red carpet of the event in Los Angeles, California.

Taking the plunge! Gwyneth Paltrow looked good as she arrived at the InStyle Awards in Los Angeles on Monday night

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If you thought the Spectre premiere in London had the entire glamour quotient for the world last night then think again.

In Los Angeles the InStyle Awards provided a serious amount of high octane and high end looks to rival any red carpet. With Selena Gomez in Louis Vuitton, Miranda Kerr in Ulyana Sergeenko, Alessandra Ambrosio in Alexandre Vauthier and Julia Roberts in Gucci, the labels were flying.

And of course Gwyneth Paltrow made an appearance looking like the queen of Hollywood she is in a beautiful gown by Schiaparelli. This velvet evening dress with extreme plunging neckline and sparkling embellishment is perfect for a wintry black tie event.

It is, of course, couture so is not available to buy online but if you want to find out more about this iconic designer then click (right) now. But the good news is Gwyneth's gown is easy to recreate and we've made it even easier by picking out the best velvet gowns on the virtual high street. Take a look below.

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The long dark Schiaparelli dress featured a daring V-shaped neckline and backless design with very short sleeves at the event held at the beautiful Getty Center.

The frock seemed to be held together by a shimmering silver sequined detailing across just below the collar bones to around the back.

Gwyneth had her blonde locks tied back and natural, complimentary make-up on her face highlighted by smokey eyeshadow and shiny pink lip.

Working it! The actress looked delighted as she arrived on stage to deliver a speech later in the evening

Dark side: The 43-year-old actress looked fantastic at the event held in the popular Getty Center

Fantastic figure: She rocked a black Schiaparelli dress featuring a very low-cut V-shaped neckline

Blonde ambition: The plunging number featured a shimmering silver sequined detailing holding it together just under the collar bone

Open window: There was also a backless cut-out to the long gown

The Oscar-winning actress was one of the honourees at the event which honours actors, actresses and artists who constantly bring their A-game to the red carpet in addition to those behind the scenes.

The mother-of-two was presented with the Style Icon award by gal pal Kate Hudson as the two seemed to have a good time hanging out before hitting the stage.

The 36-year-old How To Lose A Guy In 10 Days actress shared a selfie of the two of them enjoying a few beverages with the caption: 'Excited to present an award to @gwynethpaltrow #instyleawards #lovemygirlfriends #styleicon.'

Blondes have more fun? Gwyneth and Kate hugged it out as they chatted on the podium

Beaming: She had her signature blonde locks pulled back in an elegant ponytail

Blonde beauty: The mother-of-two sported natural, complimentary make-up on her face including smokey eye make-up and shiny pink lip

Flowy: The designer frock featured a long skirt which dragged on the floor

Busy night: She was being honoured with the Style Icon award

Just the two of us: Her gal pal Kate Hudson posted this selfie as she was to present the Oscar-winning actress with the gong

Showbiz friends: Gywneth posed alongside fellow actresses Julia Roberts and Kate Hudson inside the star-studded awards ceremony

Several A-listers were in attendance at the gala including Kim Kardashian, Selena Gomez, Zoe Kravitz, Miranda Kerr, Alessandra Ambrosio, Diane Kruger and Michelle Williams.

This is the second time in a matter of days that Gwyneth has been reconised with a special honour as she was in attendance at the Environmental Media Association Awards on Saturday.

Gwyneth was awarded the 2015 Green Parent Award on the night, presented to her by her mom, Blythe Danner, whom she walked with on the green carpet.

Let me take a selfie: Kate and Gwyneth posed for a sweet selfie with Ariel Foxman, InStyle's editorial director

Pretty as a picture: Gwyneth looked lovely with her blonde locks tied back from her face in a delicate bow

A family affair: Gwyneth has been busy as of late as she was was supported by mother Blythe Danner at the Environmental Media Association Awards in Los Angeles on Saturday