Academy Awards
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1976 | Academy of Motion Picture Arts and Sciences | Best Song | Bill Conti | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Sound | Bud Alper | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Sound | Lyle J. Burbridge | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Actress | Talia Shire | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Supporting Actor | Burt Young | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Actor | Sylvester Stallone | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Picture | Robert Chartoff | Won |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Song | Ayn Robbins | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Sound | Harry W. Tetrick | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Editing | Richard Halsey | Won |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Sound | Wiliam L. McCaughey | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Editing | Scott Conrad | Won |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Director | John G. Avildsen | Won |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Picture | Irwin Winkler | Won |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Song | Carol Connors | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Original Screenplay | Sylvester Stallone | Nominated |
| 1976 | Academy of Motion Picture Arts and Sciences | Best Supporting Actor | Burgess Meredith | Nominated |
American Film Institute
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1998 | American Film Institute | 100 Greatest American Movies | Won |
British Academy of Film and Television Arts
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1977 | British Academy of Film and Television Arts | Best Picture | John G. Avildsen | Nominated |
Directors Guild of America
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1976 | Directors Guild of America | Best Director | John G. Avildsen | Won |
Golden Globes
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1976 | Hollywood Foreign Press Association | Best Performance by an Actress in a Motion Picture - Drama | Talia Shire | Nominated |
| 1976 | Hollywood Foreign Press Association | Best Screenplay | Sylvester Stallone | Nominated |
| 1976 | Hollywood Foreign Press Association | Best Picture - Drama | Won | |
| 1976 | Hollywood Foreign Press Association | Best Performance by an Actor in a Motion Picture - Drama | Sylvester Stallone | Nominated |
| 1976 | Hollywood Foreign Press Association | Best Original Score | Bill Conti | Nominated |
Los Angeles Film Critics Association
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1976 | Los Angeles Film Critics Association | Best Picture | Won |
National Board of Review
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1976 | National Board of Review | Best Supporting Actress | Talia Shire | Won |
| 1976 | National Board of Review | Best Picture | Nominated |
New York Film Critics Circle
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1976 | New York Film Critics Circle | Best Supporting Actress | Talia Shire | Won |

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