| Academy Award Nominations and Winners: |
| ★ | Best Supporting Actress: Rachel Weisz |
| Best Adapted Screenplay: Jeffrey Caine |
| Best Film Editing: Claire Simpson |
| Best Original Score: Alberto Iglesias |
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| Golden Globe Nominations and Winners: |
| Best Picture (Drama) |
| Best Director: Fernando Meirelles |
| ★ | Best Supporting Actress: Rachel Weisz |
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| Other Awards: |
| Screen Actors Guild Award: Best Supporting Actress (Weisz) |
| British Academy Awards (BAFTAs): Best Film Editing |
| Satellite Awards: Best Supporting Actor (Huston); Best Cinematography (César Charlone) |