| Academy Award Nominations and Winners: |
| ★ | Best Picture |
| Best Director: Vincente Minnelli |
| ★ | Best Story and Screenplay: Alan Jay Lerner |
| ★ | Best Cinematography (Color): Alfred Gilks & John Alton |
| ★ | Best Art Direction (Color): Cedric Gibbons & Preston Ames |
| ★ | Best Costume Design (Color): Walter Plunkett & Irene Sharaff |
| Best Film Editing: Adrienne Fazan |
| ★ | Best Scoring of a Musical: Johnny Green & Saul Chaplin |
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| Golden Globe Nominations and Winners: |
| ★ | Best Picture (Musical/Comedy) |
| Best Director: Vincente Minnelli |
| Best Actor (Musical/Comedy): Gene Kelly |
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| Other Awards: |
| Writers Guild of America: Best Written American Musical |