Academy Awards
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1982 | Academy of Motion Picture Arts and Sciences | Best Original Screenplay | Murray Schisgal | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Song | Marilyn Bergman | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Song | Alan Bergman | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Supporting Actress | Jessica Lange | Won |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Sound | Arthur Piantadosi | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Sound | Les Fresholtz | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Sound | Dick Alexander | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Director | Sydney Pollack | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Supporting Actress | Teri Garr | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Picture | Sydney Pollack | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Editing | William Steinkamp | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Cinematography | Owen Roizman | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Picture | Dick Richards | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Original Screenplay | Don McGuire | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Actor | Dustin Hoffman | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Editing | Frederic Steinkamp | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Sound | Les Lazarowitz | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Original Screenplay | Larry Gelbart | Nominated |
| 1982 | Academy of Motion Picture Arts and Sciences | Best Song | Dave Grusin | 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 |
|---|---|---|---|---|
| 1983 | British Academy of Film and Television Arts | Best Actor | Dustin Hoffman | Won |
Directors Guild of America
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1982 | Directors Guild of America | Best Director | Sydney Pollack | Nominated |
Golden Globes
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1982 | Hollywood Foreign Press Association | Best Performance by an Actor in a Motion Picture - Musical or Comedy | Dustin Hoffman | Won |
| 1982 | Hollywood Foreign Press Association | Best Performance by an Actress in a Supporting Role in a Motion Picture | Jessica Lange | Won |
| 1982 | Hollywood Foreign Press Association | Best Picture - Musical or Comedy | Won | |
| 1982 | Hollywood Foreign Press Association | Best Screenplay | Larry Gelbart | Nominated |
| 1982 | Hollywood Foreign Press Association | Best Director | Sydney Pollack | Nominated |
Library of Congress
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1998 | Library of Congress | U.S. National Film Registry | Won |
Los Angeles Film Critics Association
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1982 | Los Angeles Film Critics Association | Best Screenplay | Larry Gelbart | Won |
| 1982 | Los Angeles Film Critics Association | Best Screenplay | Murray Schisgal | Won |
National Board of Review
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1982 | National Board of Review | Best Picture | Nominated |
National Society of Film Critics
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1982 | National Society of Film Critics | Best Picture | Won |
New York Film Critics Circle
| Year | Award | Category | Cast & Crew | Result |
|---|---|---|---|---|
| 1982 | New York Film Critics Circle | Best Screenplay | Larry Gelbart | Won |
| 1982 | New York Film Critics Circle | Best Director | Sydney Pollack | Won |
| 1982 | New York Film Critics Circle | Best Supporting Actress | Jessica Lange | Won |
| 1982 | New York Film Critics Circle | Best Screenplay | Murray Schisgal | Won |

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