The artist's documentary Exit Through the Gift Shop was nominated for Best Documentary in this year's awards. The notoriously secretive graffiti artist caused more speculation about him after he reportedly asked the Academy if he could attend the ceremony in disguise.
If the artist did make an appearance he didn't identify himself. In the city on Wednesday his film won the Independent Spirit Award for Best Documentary but Thierry Guetta, who features in the documentary, accepted the award in Banksy's place.
Works around LA included a drunk Mickey Mouse painted onto a billboard over a petrol station, and a depiction of a Oscar statuette wearing a hoody on a red carpet.
Prices for Banksy's art has shown an increase in the last month, with one work selling for three times its estimate at Sotheby's.
Despite the chatter, Exit Through the Gift Shop didn't win the Oscar for best documentary. Inside Job, a documentary about the financial meltdown narrated by Matt Damon won the Oscar.
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