Kathryn BigelowAs presenter Barbra Streisand said, the time has come.

In a historic Oscar moment, 'Hurt Locker' helmer Kathryn Bigelow became the first woman ever to win the Academy Award for Best Director. She did so amidst tough competition from Quentin Tarantino ('Inglourious Basterds'), Jason Reitman ('Up in the Air') and ex-husband James Cameron ('Avatar').

"There's no other way to describe it. It's the moment of a lifetime," she said.

'The Hurt Locker' took home five additional awards, including Best Picture.

Watch highlights of Bigelow's history-making speech after the jump.
categories Movies, Video, Oscars, Awards