Here's what's on the menu.

Best restaurant
Credit: Photo by Neilson Barnard/Getty Images for Blancpain

New York City's Eleven Madison Park became the best restaurant in the world at a ceremony in Melbourne, Australia Wednesday.

The awards ceremony, called the World's 50 Best Restaurants, is widely considered the Academy Awards of the restaurant world, and Eleven Madison Park is the first U.S. restaurant to nab the top spot since 2004.

"I don't know how I feel right now but I'm overjoyed," head chef Daniel Humm said following the win. "I'm so proud to be up here. When I first started cooking 25 years ago, I never in my wildest dreams would have thought I'd find myself in this position."

The restaurant, located in Manhattan's Flatiron district, is now serving its tasting menu for $295. The eleven-course meal includes sea urchin custard with baby squid, bay scallop and apple, and pear poached with honey and acorn, Bloomberg reported.

The seasonal menu often changes, but the restaurant is known for its celery root cooked in pig's bladder, according to Reuters.

Last year’s winner, Osteria Francescana from Italy came in second place, and El Celler de Can Roca of Spain took the third place spot.

A poll of some 1,000 chefs and industry experts from across 26 regions select the winners each year.