Academy Award Nominations and Winners: |
| Best Supporting Actor: Al Pacino |
| Best Cinematography: Vittorio Storaro |
★ | Best Art DirectionSet Decoration: Richard Sylbert and Rick Simpson |
| Best Costume Design: Milena Canonero |
| Best Sound: Thomas Causey, Chris Jenkins, David E. Campbell, and Doug Hemphill |
★ | Best Original Song: "Sooner or Later (I Always Get My Man)" |
★ | Best Makeup: John Caglione Jr. and Doug Drexler |
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Golden Globe Nominations: |
| Best Picture (Musical/Comedy) |
| Best Supporting Actor: Al Pacino |
| Best Original Song: "Sooner or Later (I Always Get My Man)" |
| Best Original Song: "What Can You Lose?" |
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Other Awards: |
| Boston Society of Film Critics: Best Cinematography (Storaro; also cited for The Sheltering Sky) |
| British Academy Awards (BAFTAs): Best Production Design; Best Makeup |