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Penelope Cruz accepts incredible honor from the Museum of Modern Art

She looked stunning in Chanel

Penelope Cruz was in the holiday spirit on Monday as she wore a stunning red fifties-inspired gown to accept an incredible honor from the Museum of Modern Art.

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The actress opted to wear a red Chanel Haute Couture dress with a sparkling neckline for the 2021 MoMA Film Benefit in New York City. Featuring an off-the-shoulder cape and pleated A-line asymmetrical hemline skirt, the gown wowed with a plunging V-neckline outlined with intricate silver lace and a festive bow.

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Penelope accessorized with black peep-toe heels, and showed off her glittering diamond earrings with her hair tied back in a bun and her bangs sweeping over her face.

MoMA’s film benefit raises funds to bring great works of film to the museum’s collection, and Penelope joins a group of previous MoMA honorees that includes Martin Scorsese, Tom Hanks, Julianne Moore, Cate Blanchett, Quentin Tarantino, George Clooney and others.

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"I would not be here tonight, being honored by MoMa, if I had not had the privilege of working with brilliant directors who have inspired me, taught me, helped me grow as an artist and as a person. I want to thank them all tonight, and especially my Pedro [Almodover]," Penelope told guests including Anne Hathaway, Diane Kruger and Rebecca Hall at a star-studded benefit Tuesday evening at the museum.

Pedro and Penelope have worked together on seven films, and their latest film Parallel Mothers opens in the United States on December 24.

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The actress opted to wear a red Chanel Haute Couture dress

On Monday, it received two Golden Globe nominations.

Recalling renting Betamax video tapes as a child, she shared how she watched all of the director's films and "watched, and I laughed, I cried, and I learned".

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The gown wowed with a plunging V-neckline outlined with intricate silver lace and a festive bow

"You told me that when I get old you will take care of me. I’m not that old yet, but I hope you keep your word," Pedro shared in a special video pre-recorded for the ceremony.

"When I am an old man, I hope you come and become, in this case, my mother. It would be a reflection of all the mothers that you have been for me throughout these seven films."

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