| Academy Award Nominations and Winners: |
| ✓ | Best Picture |
| ✓ | Best Director: Michael Cimino |
| Best Actor: Robert De Niro |
| Best Supporting Actress: Meryl Streep |
| ✓ | Best Supporting Actor: Christopher Walken |
| Best Original Screenplay: Deric Washburn, Michael Cimino, Louis Garfinkle, and Quinn K. Redeker |
| Best Cinematography: Vilmos Zsigmond |
| ✓ | Best Film Editing: Peter Zinner |
| ✓ | Best Sound: Richard Portman, William L. McCaughey, Aaron Rochin, and C. Darin Knight |
|
| Golden Globe Nominations and Winners: |
| Best Picture (Drama) |
| ✓ | Best Director: Michael Cimino |
| Best Actor (Drama): Robert De Niro |
| Best Supporting Actress: Meryl Streep |
| Best Supporting Actor: Christopher Walken |
| Best Screenplay: Deric Washburn |
|
| Other Awards: |
| Directors Guild of America: Best Director |
| New York Film Critics Circle: Best Picture; Best Supporting Actor (Walken) |
| Los Angeles Film Critics Association: Best Director |
| New York Film Critics Circle: Best Supporting Actress (Streep) |
| British Academy Awards (BAFTAs): Best Cinematography; Best Film Editing |