She was nominated and was a definite contender, but in the end her performance in Beasts of the Southern Wild, though much praised, didn't win her an Oscar. She was beaten to the Best Actress award by Jennifer Lawrence in Silver Linings Playbook.
Quvenzhane Wallis had already made history though, just by being there - at 9 she was the youngest ever nominee, and many were saying she was also the smallest, though that isn't an official record.
She seemed very happy and not nervous at the ceremony, joking with journalists like Piers Morgan and chatting with stars like Halle Berry. This probably won't be her last nomination. The signs are that she will carry on with her acting career; before the ceremony, the latest news was that she is being cast for the title role in a remake of Annie.
You can read more about Quvenzhane Wallis and other nominees here.