| Academy Award Nominations and Winners: |
| Best Picture |
| Best Director: Scott Hicks |
| ★ | Best Actor: Geoffrey Rush |
| Best Supporting Actor: Armin Mueller-Stahl |
| Best Original Screenplay: Jan Sardi & Scott Hicks |
| Best Film Editing: Pip Karmel |
| Best Original Score: David Hirschfelder |
|
| Golden Globe Nominations and Winners: |
| Best Picture (Drama) |
| Best Director: Scott Hicks |
| ★ | Best Actor (Drama): Geoffrey Rush |
| Best Screenplay: Jan Sardi |
| Best Original Score: David Hirschfelder |
|
| Other Awards: |
| Screen Actors Guild Awards: Best Actor (Rush) |
| New York Film Critics Circle: Best Actor (Rush) |
| Los Angeles Film Critics Association: Best Actor (Rush) |
| Boston Society of Film Critics: Best Actress (Streep) |
| National Board of Review: Best Picture |
| British Academy Awards (BAFTAs): Best Actor (Rush); Best Sound |
| Satellite Awards: Best Actor, Drama (Rush; tie); Best Supporting Actor, Drama (Mueller-Stahl) |