The 34-year-old singer sang the signature song as a tribute to 1939's Wizard of Oz. 2014 marks the 75th anniversary of the film, and the tune won Best Original Song at the 12th Academy Awards.
P!nk paid homage to Dorothy's red slippers by wearing a glittering red gown for the performance. Her gorgeous dress and jaw-dropping vocals wowed audiences both at the ceremony and at home. Several stars, including Matthew McConaughey and Pharrell Williams, gave the singer a standing ovation after she finished the song.
Watch a video of the performance here.