| Academy Award Nominations: |
| Best Supporting Actor: Jude Law |
| Best Adapted Screenplay: Anthony Minghella |
| Best Art Direction: Roy Walker; Bruno Cesari |
| Best Costume Designer: Ann Roth & Gary Jones |
| Best Original Score: Gabriel Yared |
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| Golden Globe Nominations: |
| Best Picture (Drama) |
| Best Director: Anthony Minghella |
| Best Actor (Drama): Matt Damon |
| Best Supporting Actor: Jude Law |
| Best Original Score: Gabriel Yared |
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| Other Awards: |
| National Board of Review: Best Director; Best Supporting Actor (Hoffman; also cited for Magnolia) |
| British Academy Awards (BAFTAs): Best Supporting Actor (Law) |