Academy Awards
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1991 | Academy of Motion Picture Arts and Sciences | Best Supporting Actor | Ben Kingsley | Nominated |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Costume Design | Albert Wolsky | Won |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Art Direction | Nancy Haigh | Won |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Original Screenplay | James Toback | Nominated |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Score | Ennio Morricone | Nominated |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Picture | Mark Johnson | Nominated |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Picture | Barry Levinson | Nominated |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Actor | Warren Beatty | Nominated |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Art Direction | Dennis Gassner | Won |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Supporting Actor | Harvey Keitel | Nominated |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Director | Barry Levinson | Nominated |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Picture | Warren Beatty | Nominated |
| 1991 | Academy of Motion Picture Arts and Sciences | Best Cinematography | Allen Daviau | Nominated |
American Society of Cinematographers
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1991 | American Society of Cinematographers | Best Cinematography | Allen Daviau | Won |
Berlin International Film Festival
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1992 | Berlin International Film Festival | In Competition | Barry Levinson | Nominated |
Directors Guild of America
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1991 | Directors Guild of America | Best Director | Barry Levinson | Nominated |
Golden Globes
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1991 | Hollywood Foreign Press Association | Best Director | Barry Levinson | Nominated |
| 1991 | Hollywood Foreign Press Association | Best Performance by an Actress in a Motion Picture - Drama | Annette Bening | Nominated |
| 1991 | Hollywood Foreign Press Association | Best Performance by an Actor in a Motion Picture - Musical or Comedy | Warren Beatty | Nominated |
| 1991 | Hollywood Foreign Press Association | Best Picture - Drama | Won |
Los Angeles Film Critics Association
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1990 | Los Angeles Film Critics Association | Best Screenplay | James Toback | Won |
| 1990 | Los Angeles Film Critics Association | Best Picture | Won | |
| 1990 | Los Angeles Film Critics Association | Best Director | Barry Levinson | Won |
National Board of Review
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1991 | National Board of Review | Best Actor | Warren Beatty | Won |
| 1991 | National Board of Review | Best Picture | Nominated |

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