Helen Hunt wears H&M dress on Oscars red carpet

Never mind, Armani, go away, Valentino, time's up, Chanel. None of those designers were good enough for best-supporting actress nominee Helen Hunt, who wore a dress from mass retailer H&M on the Oscars red carpet Sunday.

Oh, and $700,000 worth of Martin Katz jewelry, too.

Hunt said the strapless gown, navy-blue with a train also is "green," as she explained to E! host Ryan Seacrest.

"I'm not kidding!" she exclaimed.

She chose it "because it was the most beautiful dress I tried on and they partner with Global Green," she said. "It was a win-win-win." Asked if it was comfortable, she said "I'm not in my sweat pants but I do feel pretty good. "

The Twitterverse approved.

"H&M for Helen Hunt: certainly the most affordable gown on the red carpet #oscars proves that you DONT have to spend a lot to look AMAZING!" tweeted Oprah's O magazine, one of numerous tweets applauding her look.

Already an Oscar winner, Hunt is nominated for her role as a sex surrogate in The Sessions.

Her dress may be the most accessible choice of a red-carpet walker since Sharon Stone wore The Gap to the Academy Awards in 1996 (a charcoal grey turtleneck), and in 1998 (a white button-down shirt).

Relive the red carpet action and track the trends with our Oscar Watch Party.