Rather than adaptations of Oscar-winning films, as the title implied, the series offered "Hollywood's finest, the great picture plays, the great actors and actresses, techniques and skills, chosen from the honor roll of those who have won or been nominated for the famous golden Oscar of the Academy of Motion Picture Arts and Sciences."With that as a guideline, any drama could be presented as long as the cast included at least one Oscar-nominated performer.

For example, Robert Nathan's 1940 novel Portrait of Jennie was not released as a film until 1949. David O. Selznick, having acquired the rights to Nathan's novel in 1944, was spending much time and money in his efforts to bring it to the screen. Thus, Academy Award's December 4, 1946, adaptation of Portrait of Jennie, with John Lund and Oscar-winner Joan Fontaine, had a promotional aspect, concluding with host/announcer Hugh Brundage revealing, "Portrait of Jennie is soon to be a Selznick International picture starring Jennifer Jones and Joseph Cotten."