She's one of the world's most glamorous royals but Charlene, Princess of Monaco, looked like the perfect leading lady at a gala to award artistic talent.

The 37-year-old wowed in a striking, floor-length gown by Christian Dior Couture at the annual Princess Grace Awards on Saturday.

Accompanied by her dapper-looking husband Prince Albert, 57, the pair were on hand to present an accolade to acting legend Robert Redford.

The awards - which were presented by sponsor Christian Dior Couture at Monaco Palace in Monte Carlo - reward emerging talent in theatre, dance and film through scholarships, apprenticeships and fellowships.

Charlene, Princess of Monaco, wowed in a striking, floor-length gown by Christian Dior Couture at the annual Princess Grace Awards on Saturday

Mother-of-two Charlene looked like a screen siren in her black designer dress that featured glittering red embellishment detailing and capped sleeves.

The former Olympic swimmer completed her red carpet-worthy ensemble with pink diamond droplet earrings and pillarbox red lipstick.

Meanwhile Prince Albert, who is Grace Kelly's son, looked handsome in tailored black trousers, a smart off-white tuxedo jacket and bow tie.

The prestigious ceremony, held in honour of Grace Kelly's theatrical and royal legacy, distributes over £600,000 ($1 million) to artists to help them pursue their goals.

Prince Albert II of Monaco and his wife Princess Charlene posed with Sibylle Szaggars Redford, her husband actor Robert Redford and director Cary Fukunaga at the 2015 Princess Grace Awards gala in Monaco

A dapper-looking Prince Albert and his wife Princess Charlene arrive at the Monaco Palace in Monte Carlo

Mother-of-two Charlene looked like a screen siren in her black designer dress that featured glittering red embellishment detailing and capped sleeves

During the gala Princess Charlene was spotted chatting to acting legend and award winner Robert Redford

Robert Redford was awarded the 2015 Prince Rainier III Award, which recognises a leader in the arts whose accomplishments also include service to the community. Sibylle Szaggars Redford was named a recipient as well

Prince Albert is all smiles as he makes his way into the Princess Grace Awards Gala alongside wife Princess Charlene, actor Robert Redford and his wife Sibylle Szaggars Redford

The prestigious Princess Grace Awards Gala was held at the Monaco Palace and sponsored by Christian Dior Couture

Princess Charlene chats to American socialite Lynn Watt, who wore a metallic gold floor-length gown

Princess Charlene and Prince Albert awarded Robert Redford with the 2015 Prince Rainier III Award, which recognises a leader in the arts whose accomplishments also include service to the community.

Robert's wife, Sibylle Szaggars Redford, was named a recipient as well.

The 79-year-old A Walk In The Woods star and his wife will also receive a £16,000 ($25,000) grant to give to the philanthropic organisation of their choice.

But it wasn't just Princess Charlene that hit the sartorial high notes at the esteemed event.

Sibylle Szaggars Redford looked elegant in a floor-sweeping monochrome gown that had intricately patterned lace detailing around the waist and hips.

Sibylle Szaggars Redford, Prince Albert, Princess Charlene, Lynn Wyatt, Robert Redford, guest and Cary Fukunaga attend the 2015 Princess Grace Awards Gala

US actress Jane Krakowski poses on the red carpet, pictured left, and CEO of French Christian Dior Couture, Sidney Toledano and his wife Katia, right, arrive at the event

Swedish model and television host Victoria Silvstedt poses at the Princess Grace Awards gala in Monaco

Meanwhile American socialite Lynn Watt looked sophisticated in a floor-length gold dress with long sleeves while actress Jane Krakowski turned heads in her plunging frock.

Swedish model Victoria Silvstedt showed off her toned calves and lean arms in a strapless baby blue dress, which was decorated with a metallic floral-inspired pattern.

The asymmetrical gown highlighted her curves by featuring a tight bodice and flowing hemline.

CEO of French Christian Dior Couture, Sidney Toledano and his wife Katia, De Grisogono, founder Fawaz Gruosi, model Sandra Taylor and jeweller Yves G Piaget were also in attendance.

Guests take their seats inside the Monaco Palace as the awards evening begins

De Grisogono founder Fawaz Gruosi and guest, pictured left, and US actress and model Sandra Taylor, right, were also in attendance