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The Oscar-winning actress posted a video on her Instagram stories Sunday while streaming the event, tagging the first-time winner, "[Robert Downey Jr.] takes it!"
LIST | See the full list of Oscars winners here
Paltrow, 51, filmed the moment as it played out on her laptop. She erupted with excitement, turning the phone around to reveal her head of plastic wrap and hair products as she fist pumped in celebration for her friend's first win.
Robert Downey Jr.'s win for his role as Lewis Strauss was his third Oscar nomination.
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The longtime friends worked together as co-stars in Marvel's hit "Iron Man" franchise.
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Paltrow, who won her own Oscar for her performance in "Shakespeare in Love," participated in Vogue's "73 Questions" video series and revealed a funny, yet functional use for her Oscar statuette: it holds open a large wooden door in her Amagansett, New York, home.
"My doorstop! It works perfectly," she said referencing the award.