The Euphoria star wore a floor-length dress, featuring velvet and silk geometric panels, in a turquoise and black colour palette.
The 25-year-old kept her long hair in a sleek centre-parting, and accessorised with a diamond choker necklace and matching studs.
The rare garment was taken from the American designer’s Fall 1998 collection and has been universally revered by fashion and film lovers alike.
On social media, users flocked to comment on how “stunning”, “gorgeous” and “chic” she looked, while others dropped fire emojis and commented on how happy she appeared to be.
“She looks amazing and happy. Love that for her,” wrote one user.
“Ate and left not one crumb. Zendaya really is breathtakingly gorgeous,” said another.
On Twitter, the response was similar with one user describing her as “the epitome of beauty”. Another wrote, “she’s a goddess OMG”, while a third simply added “she done did it again”.
Another dubbed the California native “Zenslaya”, a reference to her ability to “slay” with her fashion looks.
The annual event aims to recognise 100 of the world’s most influential figures.
Hosted by Marvel actor Simu Liu, the gala also featured performances by Mary J. Blige and Miranda Lambert.
The Dune actor was nominated for the prestigious list by film director Denis Villeneuve who worked with her on the aforementioned film.
Villeneuve described the star as a “cultural icon in the making”.
He said: “[She’s] a person driven by pure inspiration, empathy and respect for her craft, who uses authenticity as a new superpower. She seems fearless, her roots run deep, and I love that she still laughs like a kid. Zendaya is the future. And there is nothing more comforting to me.”
Zendaya described her inclusion on the list as “a great honour”. Writing on Instagram, she thanked Villeneuve for his “kind words”, adding that it “means the world to me”.