| Academy Award Nominations and Winners: |
| Best Picture |
| Best Director: Peter Yates |
| Best Supporting Actress: Barbara Barrie |
| ★ | Best Original Screenplay: Steve Tesich |
| Best Original Song Score and Its Adaptation or Adaptation Score: Patrick Williams |
|
| Golden Globe Nominations and Winners: |
| ★ | Best Picture (Musical/Comedy) |
| Best Director: Peter Yates |
| Best Screenplay: Steve Tesich |
| Best New Star (Male): Dennis Christopher |
|
| Other Awards: |
| Writers Guild of America: Best Written American Comedy
|
| New York Film Critics Circle: Best Screenplay
|
| National Society of Film Critics: Best Picture; Best Screenplay |
| National Board of Review: Best Supporting Actor (Dooley) |
| British Academy Awards (BAFTAs): Most Promising Newcomer (Christopher) |
