| Academy Award Nominations and Winners: |
| Best Picture |
| Best Director: Bennett Miller |
| ★ | Best Actor: Philip Seymour Hoffman |
| Best Supporting Actress: Catherine Keener |
| Best Adapted Screenplay: Dan Futterman |
|
| Golden Globe Nominations: |
| ✓ | Best Actor (Drama): Philip Seymour Hoffman |
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| Other Awards: |
| Screen Actors Guild Awards: Best Actor (Hoffman) |
| Independent Spirit Awards: Best Actor (Hoffman); Best Screenplay; Producers Award (Caroline Baron; also cited for Monsoon Wedding) |
| New York Film Critics Circle: Best First Film |
| Los Angeles Film Critics Association: Best Actor (Hoffman); Best Supporting Actress (Keener; also cited for
The Ballad of Jack and Rose and Capote); Best Screenplay (tie) |
| National Society of Film Critics: Best Picture; Best Actor (Hoffman) |
| Boston Society of Film Critics: Best Actor (Hoffman); Best Supporting Actress (Keener; also cited for
The Ballad of Jack and Rose and Capote); Best Screenplay |
| National Board of Review: Best Actor (Hoffman) |
| British Academy Awards (BAFTAs): Best Actor (Hoffman) |
| Satellite Awards: Best Actor, Drama (Hoffman) |