The Academy of Motion Picture Arts and Sciences is set to honor the fabulous memory of Federico Fellini. The celebration includes the 50th anniversary of his La Dolce Vita with an exhibition titled “Fellini Oniricon – The Book of My Dreams” to open January 24, 2008 at its Beverly Hills headquarters.

The exhibit will share one hundred sketches from Fellini’s personal journals comprising his often sexual dreams, nocturnal notes that inspired movie characters, and caricatures that Fellini drew of famous artists, including Pablo Picasso and Marcello Mastroianni, will go on display at the Academy two days after the Oscar nominations are announced. The exhibit is set to run through April 19.

Publicize as the most comprehensive to date to reconstruct the directors fantasy world, “Fellini Oniricon” is divided into eight sections, which include “Dreaming and Filming,” “All These Ladies” and “Giulietta,” this last one dedicated to his wife, and muse, Giulietta Masina.

The show also includes scores of on-set pictures documenting Fellini’s career as well as the original copies of his huge two-volume diary, which cover the years from 1960 to 1990.

During the course of his four-decade career, Fellini, who died in 1993, received one honorary Oscar and was nominated multiple times.