| Academy Award Nominations: |
| Best Cinematography: Roger Deakins |
|
| Golden Globe Nominations: |
| Best Picture (Drama) |
| Best Actor (Drama): Billy Bob Thornton |
| Best Screenplay: Joel and Ethan Coen |
|
| Other Awards: |
| Cannes Film Festival: Best Director (tie) |
| Los Angeles Film Critics Association: Best Cinematography |
| Boston Society of Film Critics: Best Cinematography |
| National Board of Review: Best Actor (also cited for Bandits and Monster's Ball) |
| British Academy Awards (BAFTAs): Best Cinematography |
| Satellite Awards: Best Cinematography |
| AFI Awards: Best Cinematography |