Phillip Seymour Hoffman, James Gandolfini, Bette Midler

Gareth Cattermole/Getty Images For The BFI; Billy Farrell/BFAnyc/Sipa Press, ABC

Rest in peace.

Glenn Close stepped on the stage to honor the academy members who sadly passed away this evening.

"We love you, we honor you, we miss you but most of all, we thank you," she told the audience.

"Through their artistry, wherever they brought their magic, they brought their magic…they mentored us, challenged us, inspired us, elevated us, and made us only want to be better. We lost too many of them this year."

James Gandolfini was the first person who was included in the In Memoriam tribute, with Philip Seymour Hoffman closing out the list of names that are no longer with us.

The list also included: Peter O'Toole, Paul WalkerAnnette Funicello, Sid Caesar, Roger Ebert, Shirley Temple, Joan Fontaine, Juanita Moore, Harold Ramis, Eleanor Parker, Julie Harris and Maximilian Schell.

Bette Midler brought the Dolby Theatre to tears with her breathtaking rendition of "Wind Beneath My Wings."

The Grammy winner belted out one of her most famous songs with complete ease and confidence.

In fact, the crowd gave her a standing ovation for her performance—and rightfully so.

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