| Academy Award Nominations and Winners: |
| Best Picture |
| Best Director: Paul Thomas Anderson |
| ★ | Best Actor: Daniel Day-Lewis |
| Best Adapted Screenplay: Paul Thomas Anderson |
| ★ | Best Cinematography: Robert Elswit |
| Best Art Direction: Jack Fisk |
| Best Film Editing: Dylan Tichenor |
| Best Sound Effects: Matthew Wood |
|
| Golden Globe Nominations and Winners: |
| Best Picture (Drama) |
| ★ | Best Actor (Drama): Daniel Day-Lewis |
|
| Other Awards: |
| Berlin Film Festival: Best Director; Outstanding Artistic Contribution (Jonny Greenwood, composer) |
| Screen Actors Guild Awards: Best Actor (Day-Lewis) |
| American Society of Cinematographers: Best Cinematography (Elswit) |
| New York Film Critics Circle: Best Actor (Day-Lewis); Best Cinematography (Robert Elswit) |
| Los Angeles Film Critics Association: Best Picture; Best Director; Best Actor (Day-Lewis); Best Production Design (Jack Fisk) |
| National Society of Film Critics: Best Picture; Best Director; Best Actor (Day-Lewis); Best Cinematography (Robert Elswit) |
| British Academy Awards (BAFTAs): Best Actor (Day-Lewis) |
