Amazing Race: Unfinished Business (8pm, CBS) - The race continues in New South Wales, Australia.
83rd Academy Awards (7pm/8:30pm, ABC) - James Franco and Anne Hathaway (left) host the 83rd annual ceremonies, airing live from the Kodak Theatre in Hollywood. "The King's Speech" leads with 12 nominations. Go here for links to galleries, live-blogging and live-tweeting, and other Oscar goodies. The actual awards show doesn't begin until 8:30pm, but Red Carpet coverage begins on ABC at 7pm, and on E! and TV Guide Network at 6pm.
Mildred Pierce (8pm, TCM) - If you're not watching the Oscars, watch an Oscar winner. A great classic from 1945 which won Joan Crawford an Academy Award for best actress. HBO's mini-series remake starring Kate Winslet premieres in March. Also, "Annie Hall" airs right after this at 10pm.
Big Love (9pm, HBO) - Bill seizes an opportunity to strengthen the bonds of his marriages, Alby raises the stakes in his quest for power, and Lois is skeptical of Barb's plan for her future.
Shameless (10pm, Showtime) - Frank (William H. Macy) goes on the wagon, pleasing Carl and Debbie. But Lip doesn't believe her father's newfound temperance will keep him off the bottle for long. Meanwhile, Fiona scrambles to find a better-paying job, which leads her to overlook some suspicious behavior at Steve's, and Kev and Veronica open their house to a foster child and get a surprise when they learn her family history.