U.S. presidential drama "Lincoln" leads the pack of Oscar hopefuls with 12 nominations including a nod for best picture and Steven Spielberg's directing.
Daniel Day-Lewis' performance as the U.S. President could earn him his third best actor trophy.
He will go up against Hugh Jackman for "Les Miserables," Bradley Cooper for "Silver Linings Playbook," Joaquin Phoenix in "The Master" and Denzel Washington in "Flight."
Shipwreck tale "Life of Pi" is close behind "Lincoln" with 11 nods, including one for director Ang Lee.
While the screen adaptation of the musical "Les Mis" received eight nominations, including best picture and best supporting actress for Anne Hathaway.
"Amour," a moving love story about an elderly couple fared well with the Academy, winning best picture and directing nods for Michael Haneke, and a best lead actress mention for 85 year-old Emmanuelle Riva, who became the oldest best actress nominee in the Academy's 85-year history.
At the opposite end of the spectrum nine-year-old Quvenzhane Wallis became the youngest ever best actress Oscar nominee for her performance in "Beasts of the Southern Wild," which also garnered a nod for its first time director Benh Zeitlin.
The Oscars will be handed out in Hollywood on February 24.