Abstract: In this work we perform the first ever calculation of jet event shapes at hadron colliders at next-to-next-to leading order (NNLO) in QCD. The inclusion of higher order corrections removes the shape difference observed between data and next-to-leading order predictions. The theory uncertainty at NNLO is comparable to, or slightly larger than, existing measurements. Except for narrow kinematical ranges where all-order resummation becomes important, the NNLO predictions for the event shapes considered in the present work are reliable. As a prime application of the results derived in this work we provide a detailed investigation of the prospects for the precision determination of the strong coupling constant and its running through TeV scales from LHC data.