Academy Award Nominations and Winners: |
| Best Picture |
| Best Director: Martin Scorsese |
| Best Supporting Actress: Lorraine Bracco |
★ | Best Supporting Actor: Joe Pesci |
| Best Adapted Screenplay: Nicholas Pileggi and Martin Scorsese |
| Best Film Editing: Thelma Schoonmaker |
|
Golden Globe Nominations: |
| Best Picture |
| Best Director: Martin Scorsese |
| Best Supporting Actress: Lorraine Bracco |
| Best Supporting Actor: Joe Pesci |
| Best Screenplay: Nicholas Pileggi and Martin Scorsese |
|
Other Awards: |
| Venice Film Festival: Best Director |
| New York Film Critics Circle: Best Picture; Best Director; Best Actor (De Niro; also cited for Awakenings) |
| Los Angeles Film Critics Association: Best Picture; Best Director; Best Supporting Actress (Bracco); Best Supporting Actor (Pesci); Best Cinematography (Michael Ballhaus) |
| National Society of Film Critics: Best Picture; Best Director |
| Boston Society of Film Critics: Best Picture; Best Director; Best Supporting Actor (Pesci) |
| Chicago Film Critics Association: Best Picture; Best Director; Best Supporting Actress (Bracco); Best Supporting Actor (Pesci); Best Adapted Screenplay |
| National Board of Review: Best Supporting Actor (Pesci) |
| British Academy Awards (BAFTAs): Best Picture; Best Director; Best Adapted Screenplay; Best Film Editing; Best Costume Design (Richard Bruno) |