| Academy Award Nominations and Winners: |
| Best Picture |
| ★ | Best Actress (tie): Barbra Streisand |
| Best Supporting Actress: Kay Medford |
| Best Cinematography: Harry Stradling, Sr. |
| Best Film Editing: Robert Swink, Maury Winetrobe, and William Sands |
| Best Musical Score (Original or Adaptation): Walter Scharf |
| Best Original Song: "Funny Girl" |
| Best Sound |
|
| Golden Globe Nominations and Winners: |
| Best Picture (Musical/Comedy) |
| Best Director: William Wyler |
| ★ | Best Actress (Musical/Comedy): Barbra Streisand |
| Best Original Song: "Funny Girl" |
|
| Other Awards: |
| Writers Guild of America: Best Written American Musical |