Academy Awards
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1981 | Academy of Motion Picture Arts and Sciences | Best Original Screenplay | Warren Beatty | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Editing | Dede Allen | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Sound | Simon Kaye | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Cinematography | Vittorio Storaro | Won |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Editing | Craig McKay | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Picture | Warren Beatty | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Supporting Actor | Jack Nicholson | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Original Screenplay | Trevor Griffiths | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Costume Design | Shirley Russell | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Actor | Warren Beatty | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Director | Warren Beatty | Won |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Actress | Diane Keaton | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Supporting Actress | Maureen Stapleton | Won |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Art Direction | Michael Seirton | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Sound | The Reds | Nominated |
| 1981 | Academy of Motion Picture Arts and Sciences | Best Art Direction | Richard Sylbert | Nominated |
British Academy of Film and Television Arts
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1982 | British Academy of Film and Television Arts | Best Supporting Actor | Jack Nicholson | Won |
| 1982 | British Academy of Film and Television Arts | Best Supporting Actress | Maureen Stapleton | Won |
Directors Guild of America
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1981 | Directors Guild of America | Best Director | Warren Beatty | Won |
Golden Globes
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1981 | Hollywood Foreign Press Association | Best Screenplay | Warren Beatty | Nominated |
| 1981 | Hollywood Foreign Press Association | Best Performance by an Actress in a Supporting Role in a Motion Picture | Maureen Stapleton | Nominated |
| 1981 | Hollywood Foreign Press Association | Best Performance by an Actress in a Motion Picture - Drama | Diane Keaton | Nominated |
| 1981 | Hollywood Foreign Press Association | Best Performance by an Actor in a Motion Picture - Drama | Warren Beatty | Nominated |
| 1981 | Hollywood Foreign Press Association | Best Performance by an Actor in a Supporting Role in a Motion Picture | Jack Nicholson | Nominated |
| 1981 | Hollywood Foreign Press Association | Best Picture - Drama | Nominated | |
| 1981 | Hollywood Foreign Press Association | Best Director | Warren Beatty | Won |
Los Angeles Film Critics Association
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1981 | Los Angeles Film Critics Association | Best Supporting Actress | Maureen Stapleton | Won |
| 1981 | Los Angeles Film Critics Association | Best Cinematography | Vittorio Storaro | Won |
| 1981 | Los Angeles Film Critics Association | Best Director | Warren Beatty | Won |
National Board of Review
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1981 | National Board of Review | Best Picture | Nominated | |
| 1981 | National Board of Review | Best Supporting Actor | Jack Nicholson | Won |
| 1981 | National Board of Review | Best Director | Warren Beatty | Won |

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