| Academy Award Nominations and Winners: |
| ★ | Best Picture |
| ★ | Best Director: Danny Boyle |
| ★ | Best Adapted Screenplay: Simon Beaufoy |
| ★ | Best Cinematography: Anthony Dod Mantle |
| ★ | Best Film Editing: Chris Dickens |
| ★ | Best Original Score: A.R. Rahman |
| ★ | Best Original Song: "Jai Ho" |
| Best Original Song: "O Saya" |
| ★ | Best Sound: Ian Tapp, Richard Pryke, and Resul Pookutty |
| Best Sound Effects: Tom Sayers |
|
| Golden Globe Nominations and Winners: |
| ★ | Best Picture (Drama) |
| ★ | Best Director: Danny Boyle |
| ★ | Best Screenplay: Simon Beaufoy |
| ★ | Best Original Score: A.R. Rahman |
|
| Other Awards: |
| Toronto Film Festival: Audience Award |
| Directors Guild of America: Best Director |
| Producers Guild of America: Best Picture |
| Screen Actors Guild Awards: Best Ensemble Cast |
| Writers Guild of America: Best Adapted Screenplay |
| New York Film Critics Circle: Best Cinematography |
| Los Angeles Film Critics Association: Best Director; Best Original Score |
| National Society of Film Critics: Best Cinematography |
| Boston Society of Film Critics: Best Picture (tie); Best Film Editing |
| National Board of Review: Best Picture; Best Adapted Screenplay (tie); Breakthrough Performance, Male (Patel) |
| British Academy Awards (BAFTAs): Best Picture; Best Director; Best Adapted Screenplay;
Best Cinematography; Best Film Editing; Best Original Score; Best Sound |
| Chicago International Film Festival: Audience Award |
