| Academy Award Nominations and Winners: |
| Best Picture |
| Best Director: Stephen Frears |
| ★ | Best Actress: Helen Mirren |
| Best Original Screenplay: Peter Morgan |
| Best Costume Design: Consolata Boyle |
| Best Original Score: Alexandre Desplat |
|
| Golden Globe Nominations: |
| Best Picture (Drama) |
| Best Director: Stephen Frears |
| ★ | Best Actress (Drama): Helen Mirren |
| ★ | Best Screenplay: Peter Morgan |
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| Other Awards: |
| Venice Film Festival: Best Actress (Mirren); Best Screenplay; FIPRESCI Prize |
| Screen Actors Guild Awards: Best Actress (Mirren) |
| New York Film Critics Circle: Best Actress (Mirren); Best Screenplay |
| Los Angeles Film Critics Association: Best Actress (Mirren); Best Supporting Actor (Sheen); Best Screenplay; Best Original Score (Desplat; also cited for The Painted Veil) |
| National Society of Film Critics: Best Actress (Mirren); Best Screenplay |
| Boston Society of Film Critics: Best Actress (Mirren) |
| National Board of Review: Best Actress (Mirren) |
| British Academy Awards (BAFTAs): Best Picture; Best Actress (Mirren) |
| European Film Awards: Best Actress (Mirren); Best Composer (Desplat) |
| Satellite Awards: Best Actress, Drama (Mirren); Best Original Screenplay |
| Chicago Film Festival: Audience Award |