The ceremony to be hosted by screen veteran Rachel Griffiths and up-and-comer Teresa Palmer, will recognise this year's best local films following a record-breaking year for Australian cinema at the domestic box office.
George Miller's action epic Mad Max: Fury Road faces competition from The Dressmaker, Holding The Man, Last Cab to Darwin and Paper Planes.
Mad Max: Fury Road dominated the production categories, awarded last week, with six wins, including best adapted screenplay, cinematography, editing, sound, original music score and production design.
Blanchett will receive the Longford Lyell Award - one of the Australian industry's highest honours - for outstanding contribution to Australian screen.
It comes off the back of a stellar year for the two-time Oscar winner.
She has two Oscar-worthy films this season - the 1950s lesbian romance Carol, and Truth, about former US 60 Minutes producer Mary Mapes.
Video tributes for Blanchett will come from Hollywood A listers Martin Scorsese, Robert Redford and Ron Howard.
Miller battles Jocelyn Moorhouse (The Dressmaker), Jeremy Sims (Last Cab to Darwin) and Neil Armfield (Holding the Man) for the best director gong.
Michael Caton (Last Cab to Darwin), Charlize Theron (Mad Max: Fury Road) and Kate Winselt (The Dressmaker) are among those up for best actor and actress awards.
Mel Gibson, Hugo Weaving, Radha Mitchell, Magda Szubanski, Megan Gale, Georgie Parker and Richard Roxburgh will present awards, while Bindi Irwin, Heather Maltman, Pia Miller, Brooke Satchwell, Sam Frost and Sasha Mielczarek are all expected to walk the red carpet.
AACTA AWARDS NOMINATIONS
* BEST FILM: The Dressmaker, Holding The Man, Last Cab to Darwin, Mad Max: Fury Road, Paper Planes
* BEST DIRECTION: The Dressmaker (Jocelyn Moorhouse), Holding The Man (Neil Armfield), Last Cab to Darwin (Jeremy Sims), Mad Max: Fury Road (George Miller)
* BEST LEAD ACTOR: Patrick Brammall (Ruben Guthrie), Michael Caton (Last Cab to Darwin), Ryan Corr (Holding The Man), Sullivan Stapleton (Cut Snake)
* BEST LEAD ACTRESS: Robyn Butler (Now Add Honey), Ningali Lawford-Wolf (Last Cab to Darwin), Charlize Theron (Mad Max: Fury Road), Kate Winselt (The Dressmaker)
* BEST TV DRAMA SERIES: Glitch (ABC), Love Child Series 2 (Nine Network), Miss Fisher's Murder Mysteries Series 3 (ABC), Wentworth Series 3 (Foxtel - SoHo)
* BEST TELEFEATURE OR MINI SERIES: Banished (Foxtel), Peter Allen - Not the Boy Next Door (Seven Network), The Principal (SBS), The Secret River (ABC)
