| Academy Award Nominations and Winners: |
| ✓ | Best Picture |
| ✓ | Best Director: Vincente Minnelli |
| ✓ | Best Adapted Screenplay: Alan Jay Lerner |
| ✓ | Best Cinematography (Color): Joseph Ruttenberg |
| ✓ | Best Art Direction (Color): William A. Horning and Preston Ames |
| ✓ | Best Costume Design (Color): Cecil Beaton |
| ✓ | Best Film Editing: Adrienne Fazan |
| ✓ | Best Scoring of a Musical: André Previn |
| ✓ | Best Original Song: "Gigi" |
|
| Golden Globe Nominations and Winners: |
| ★ | Best Picture (Musical) |
| ★ | Best Director: Vincente Minnelli |
| Best Actress (Musical/Comedy): Leslie Caron |
| Best Actor (Musical/Comedy): Maurice Chevalier |
| Best Actor (Musical/Comedy): Louis Jourdan |
| ★ | Best Supporting Actress: Hermione Gingold |
|
| Other Awards: |
| Directors Guild of America: Best Director |
| Writers Guild of America: Best Written American Musical |