The supermodel, 22, and the actress, 33, commanded attention as they walked the red carpet, clad in couture gowns with statement trains.
Vogue coverstar Bella flashed her toned legs and abs in a striking scarlet Grecian-inspired gown with a billowing, dramatic train.
Wow: Bella Hadid and Amber Heard sizzled as they led the celebrity arrivals at the glittering Cannes Film Festival premiere of Pain and Glory on Friday
The stunning gown featured a daring thigh-split which emphasised her honed legs in metallic heels.
Featuring an eye-popping cut-out flashing the star’s slender waist, the dress also featured a sparkling shoulder strap across Bella’s decolletage.
Her caramel flecked tresses were styled in a sleek updo with a bun comprised of glossy spiral curls.
The beauty went for an ethereal look with her make-up, with metallic shadow, feline flicks of liner and a scarlet lip accentuating her pretty features.
Wow: Vogue coverstar Bella flashed her toned legs and abs in a striking scarlet Grecian-inspired gown with a billowing, dramatic train
Toned: The beauty went for an ethereal look with her make-up, with metallic shadow, feline flicks of liner and a scarlet lip accentuating her pretty features
The Rum Diary star Amber wowed as she slipped into an extravagant plum silk asymmetric dress paired with racy thigh-high leather boots for her sultry turn on the carpet.
The stunning dress featured a statement shoulderpad adorned with shimmering ruffles that added couture edge to the ensemble.
Cinching in at her slender waist with a sleek ribbon, the dress also had a split skirt, which revealed the star’s enviable legs in her scarlet leather stiletto boots.
Showcase: The star flashed her lean frame as she playfully blew a kiss for the cameras
Work it: Amber looked incredible as she showcased her racy boots at the premiere
Model moment: Bella showed off her lithe physique as she wowed for the cameras
Sparkle: Amber accessorised with some diamond and ruby earrings as she worked the camera
Her platinum tresses were swept back from her visage in a sculpted quiff while her radiant make-up look featured fluttery lashes and berry lipstick.
She accessorised with sparkling diamond dropper earrings and and a glittering ring as she waved to the crowds.
Film star Penélope Cruz, 45, stunned in the intricate black and white lace gown with a prom-style skirt as she made a beautiful arrival on the red carpet.
Waving it up: Amber and Corey Rae waved to fans and photographers as they posed up
The Spanish superstar’s dress boasted a classy high neck before moving into a plunging back as she finished te ensemble with delicate diamond earrings.
Penélope pulled her glossy brunette tresses into an incredible sleek up-do, as she stunned onlookers with her elegant ensemble.
Pain and Glory is a Spanish film about a director in his decline as he reflects and revisits big moments and decisions in his life.
Amazing: Penélope Cruz, 45, made a glamorous arrival with her co-stars at the premiere for her film
Star-studded: (L-R) After arriving on the red carpet, Penélope reunited with her co-stars including Asier Etxeandia, Nieves Alvarez, Pedro Almodovar, Antonio Banderas and Leonardo Sbaraglia
Co-stars: Penelope shared a laugh with her dapper co-star Antonio Banderas on the red carpet
Off she goes! Penélope was also seen leaving her hotel earlier in the day in her beautiful gown as she prepared for the latest star-studded premiere
The film sees Antonio Banderas, 58, play the lead role, and the red carpet also saw the actor make an appearance with his banker girlfriend Nicole Kimpel, 38.
The 2019 Cannes Film Festival takes place at the iconic Palais des Festivals from Tuesday until May 25.
Actress Elle Fanning, French graphic novelist Enki Bilal and the Oscar-nominated director of The Favourite, Yorgos Lanthimos, will be among jury members during the annual event.
Mexican director Alejandro Gonzalez Iñárritu will preside over the panel that decides on prizes, including the top Palme D’Or award.
Happy couple: Film star Antonion Banderas walked the red carpet with glamorous girlfriend Nicole Kimpel
The jury for the festival’s 72nd edition will also include Pawel Pawlikowski, the Polish filmmaker and screenwriter named best director at Cannes last year for the impossible love story Cold War.
Maimouna N’Diaye, who has directed documentaries and acted in films such as Otar Iosseliani’s Chasing Butterflies will also sit on the panel, alongside two other female directors.
Kelly Reichardt, whose Wendy and Lucy starring Michelle Williams was a contender for Cannes’ Un Certain Regard award in 2008, directed 2016’s Certain Women.
Italy’s Alicia Rohrwacher won best screenplay at Cannes last year for her film Happy as Lazzaro, a satirical fable about a peasant family.
French filmmaker Robin Campillo, who took Cannes by storm in 2017 with 120 BPM – Beats Per Minute, winning the Grand Prix for his movie about an AIDs activist, will complete the line-up.
Bella, who is the daughter of real estate man Mohamed Hadid and former Real Housewife Of Beverly Hills Yolanda Hadid, is on-again with The Weeknd.
During one of their off periods, The Weeknd (ne Abel Tesfaye) dated Selena Gomez, and the two women unfollowed each other on Instagram.
However, Elle noticed that Bella liked an Instagram photo of Selena at the Cannes Film Festival this week, suggesting that any animosity is now in the past.
Bella has been a regular at Cannes and attended the premiere of the Elton John biopic Rocketman starring Taron Edgerton on Thursday.