| Academy Award Nominations: |
| Best Picture |
| Best Director: Michael Mann |
| Best Actor: Russell Crowe |
| Best Adapted Screenplay: Eric Roth & Michael Mann |
| Best Cinematography: Dante Spinotti |
| Best Film Editing: William Goldenberg, Paul Rubell, and David Rosenbloom |
| Best Sound: Andy Nelson, Doug Hemphill, and Lee Orloff |
|
| Academy Award Nominations: |
| Best Picture (Drama) |
| Best Director: Michael Mann |
| Best Actor (Drama): Russell Crowe |
| Best Screenplay: Eric Roth & Michael Mann |
| Best Original Score: Lisa Gerrard & Pieter Bourke |
|
| Other Awards: |
| Los Angeles Film Critics Association: Best Picture; Best Actor (Crowe); Best Supporting Actor (Plummer);
Best Cinematography |
| National Society of Film Critics: Best Actor (Crowe); Best Supporting Actor (Plummer) |
| Boston Society of Film Critics: Best Supporting Actor (Plummer) |
| National Board of Review: Best Actor (Crowe); Freedom of Expression Award |
| Satellite Awards: Best Picture (Drama); Best Director |