Yes, There Can Be A Tie At The Oscars
Both "Skyfall" and "Zero Dark Thirty" just won Oscars for Best Sound Editing.
Although, it's rare to happen, there have been two previous ties at the Academy Awards.
In 1969, Barbra Streisand ("Funny Girl") and Katherine Hepburn ("The Lion in Winter") shared the Best Actress award.
The other tie occurred in 1931/1932 when Fredric March ("Dr. Jekyll and Mr. Hyde") and Wallace Beery ("The Champ") shared the award for Best Actor.
An Oscar tie occurs when one nominee receives three or fewer votes less than the winner.
Technically, you can win without there even being a real tie.
That's what happened in '32 when March and Beery were one vote apart from one another.
The only true tie was between Streisand and Hepburn in '69. Watch the award performance below: