Academy Awards
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1994 | Academy of Motion Picture Arts and Sciences | Best Picture | Michael Nozik | Nominated |
| 1994 | Academy of Motion Picture Arts and Sciences | Best Picture | Julian Krainin | Nominated |
| 1994 | Academy of Motion Picture Arts and Sciences | Best Picture | Robert Redford | Nominated |
| 1994 | Academy of Motion Picture Arts and Sciences | Best Adapted Screenplay | Paul Attanasio | Nominated |
| 1994 | Academy of Motion Picture Arts and Sciences | Best Supporting Actor | Paul Scofield | Nominated |
| 1994 | Academy of Motion Picture Arts and Sciences | Best Picture | Michael Jacobs | Nominated |
| 1994 | Academy of Motion Picture Arts and Sciences | Best Director | Robert Redford | Nominated |
Directors Guild of America
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1994 | Directors Guild of America | Best Director | Robert Redford | Nominated |
Golden Globes
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1994 | Hollywood Foreign Press Association | Best Director | Robert Redford | Nominated |
| 1994 | Hollywood Foreign Press Association | Best Screenplay | Paul Attanasio | Nominated |
| 1994 | Hollywood Foreign Press Association | Best Performance by an Actor in a Supporting Role in a Motion Picture | John Turturro | Nominated |
| 1994 | Hollywood Foreign Press Association | Best Picture - Drama | Nominated |
National Board of Review
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1994 | National Board of Review | Best Picture | Nominated |
National Society of Film Critics
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1994 | National Society of Film Critics | Best Screenplay (Runner-up) | Paul Attanasio | Won |
New York Film Critics Circle
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1994 | New York Film Critics Circle | Best Picture | Won |
Screen Actors Guild Awards
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1994 | Screen Actors Guild | Best Supporting Actor | John Turturro | Nominated |

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