In a semi-teary speech, the renowned actor thanked director Quentin Tarantino for believing in him. Waltz beat fellow nominees Alan Arkin of "Argo," Philip Seymour Hoffman of "The Master," Robert De Niro of "Silver Linings Playbook" and Tommy Lee Jones of "Lincoln."
"We participated in the hero's journey -- the hero here being Quentin," Waltz said in his acceptance speech. "You scaled the mountain because you're not afraid of it. You slayed the dragon because you're not afraid of it and you crossed through fire because it's worth it."
You can check out the rest of the night's winners here.