Titanic, the epic drama that unfolds during the doomed ocean liner's tragic maiden voyage, has swept the Oscar awards, sailing into history as one of the most feted films of all time.

James Cameron's worldwide hit, nominated for 14 Oscars, had received 11 awards, including best picture and best director.

It also picked up best costume design, visual effects, sound, sound effects, original dramatic score, film editing, best original song, art direction and cinematography.

James Cameron: best director

Accepting the award for best director, a grinning Mr Cameron said: "I don't know about you, but I'm having a great time. I'm the king of the world!"

Earlier, he thanked his five-year-old daughter, saying: "Honey this is the thing I described for you. It's called an Oscar and it's really cool to get."

The awards were a personal triumph for Mr Cameron who had to defend the movie to critics who predicted that the film, the most expensive ever made, would flop.

The love story stole the world's hearts

Titanic has gone on to be the most successful film in Hollywood history. It has earned over $1bn at the box office and shows no sign of stopping.

Titanic had received a record 14 nominations. But it ended matching Ben Hur, which previously held the title for the most Oscar wins with 11 in 1959.

Titanic's stars Kate Winslet and Gloria Stuart failed to win best actress and best supporting actress. The film also failed to win the award for makeup, which went to the comedy, Men in Black.