Academy Award Nominations and Winners: |
| Best Picture |
| Best Director: Barry Levinson |
| Best Actor: Warren Beatty |
| Best Supporting Actor: Harvey Keitel |
| Best Supporting Actor: Ben Kingsley |
| Best Original Screenplay: James Toback |
| Best Cinematography: Allen Daviau |
★ | Best Art Direction: Dennis Gassner & Nancy Haigh |
★ | Best Costume Design: Albert Wolsky |
| Best Original Score: Ennio Morricone |
|
Golden Globe Nominations and Winners: |
★ | Best Picture (Drama) |
| Best Director: Barry Levinson |
| Best Actor (Drama): Annette Bening |
| Best Actor (Drama): Warren Beatty |
| Best Supporting Actor: Harvey Keitel |
| Best Supporting Actor: Ben Kingsley |
| Best Screenplay: James Toback |
| Best Original Score: Ennio Morricone |
|
Other Awards: |
| Los Angeles Film Critics Association: Best Picture; Best Director; Best Screenplay |
| National Society of Film Critics: Best Supporting Actor (Keitel; also cited for Mortal Thoughts and Thelma & Louise) |
| National Board of Review: Best Actor (Beatty) |