Ke Huy Quan Cries as He Wins at Oscars 2023 for Everything Everywhere : 'This Is the American Dream'

And the Oscar goes to ... Ke Huy Quan!

The Everything Everywhere All at Once actor beat out Brendan Gleeson (The Banshees of Inisherin), Brian Tyree Henry (Causeway), Judd Hirsch (The Fabelmans), Barry Keoghan (The Banshees of Inisherin) in the Best Supporting Actor category at Sunday's Oscars 2023.

After taking the stage to accept the honor from Ariana DeBose and Troy Kotsur — the former of whom was visibly and audibly emotional as she read Quan's name — the 51-year-old star began his teary acceptance speech by shouting out his 84-year-old mother, who was home watching her son win his first Oscar.

"Mom, I just won an Oscar!" he said, holding up his trophy, before reflecting on his journey, from "spending a year in a refugee camp" to becoming a child actor and, now, an Academy Award winner "on Hollywood's biggest stage."

"They say stories like this only happen in the movies. I cannot believe it's happening to me," Quan continued. "This — this — is the American dream!"

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Kevin Winter/Getty Ke Huy Quan

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Quan's Oscar comes after a decorated season for the star, who previously nabbed a SAG Award for outstanding performance by a male actor in a supporting role for his portrayal of Waymond Wang in Everything Everywhere All at Once. He also won at the Golden Globe Awards and Critics Choice Awards earlier this year.

In a recent interview for PEOPLE's annual Oscar portfolio, Quan raved about why his nomination at the Oscars "means a lot" to him at this point in his career, almost four decades after he first appeared on the big screen as a child actor in 1984's Indiana Jones and the Temple of Doom.

Kevin Winter/Getty Ke Huy Quan

"I love [Temple of Doom director and The Goonies executive producer/story writer] Steven Spielberg so much," said the celebrated actor. "This man changed my life when I was a little kid — gave me not one but two great movies."

"And for us to be recognized this year at the same time his movie is also being recognized — which is a great movie, by the way — it just made this entire award season so much more meaningful," Quan continued, praising the 76-year-old filmmaker's semi-autobiographical movie The Fabelmans.

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"For me to be able to reunite with him after I think 10, 12 years now, in person at the Golden Globes and to be able to [look] him directly in his eyes and thank him for giving me my first opportunity was such an amazing and a memorable moment for me," he said.

Reflecting on the success, Quan told PEOPLE, "We have so many Asian actors being nominated in major acting categories. I'm really thrilled about it, and it means that this past year, our stories are being told."

"When something like this happens, it just reinforces my belief that impactful change can happen," he added. "I'm so grateful to the Academy for recognizing all of us. Getting nominated is a big, big deal."

"I cannot believe I'm an Oscar-nominated actor. This is unbelievable to me," Quan said.

Kevin Winter/Getty Ke Huy Quan

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Riz Ahmed and Allison Williams unveiled the nominations for the 2023 Oscars on Jan. 24.

This year's ceremony — emceed by late-night host Jimmy Kimmel (who also hosted in 2017 and 2018) — are currently being held at the Dolby Theatre in Hollywood.

In November 2022, Bill Kramer, CEO of the Academy of Motion Picture Arts and Sciences, confirmed that winners in all 23 categories will be revealed live during the main show.

Last year, eight categories were cut for time and given out prior to the ceremony, with pre-recorded moments from the acceptance speeches included in the broadcast.

The Oscars are airing live on ABC on Sunday, March 12, at 8 p.m. ET.