The 21-year-old Hunger Games starlet also graced last year’s Hollywood issue as well.
Stay tuned for close ups and extras from Shailene and Elizabeth.
FYI: Lily is wearing a metallic Calvin Klein Collection Spring 2012 dress.
Vanity Fair‘s Hollywood Issue will hit newsstands in New York and Los Angeles on February 2 and will be available nationwide on February 7.
Jennifer Lawrence: Vanity Fair Hollywood Issue Interview