The nominations for 24 categories were announced Tuesday by Oscar award winning actor Adrien Brody ("The Pianist") and Academy of Motion Picture Arts and Sciences president Frank Pierson.
Director Martin Scorsese's epic saga about aviation pioneer Howard Hughes in "The Aviator" led the list with 11 nominations, including best picture, and acting honours for Leonardo DiCaprio, Cate Blanchett and Alan Alda as well as best director slot for Martin Scorsese.
Although much celebrated for films such as "Taxi Driver" and "Raging Bull", Scorsese has never won an Oscar before. There are chances that he might make it this time.
Actor director Clint Eastwood's boxing saga "Million Dollar Baby" and "Finding Neverland" by playwright J.M. Barrie won seven nominations each, including picture and acting nominations for Clint Eastwood, Morgan Freeman, Hillary Swank and Johnny Depp. Eastwood has also been nominated for best direction.
The other best-picture nominees were "Ray Charles", the portrait of the legendary blind singer and "Sideways," a comedy.
Along with Eastwood, Jamie Foxx also scored two nominations, as best actor for the title role in "Ray" and supporting actor as a taxi driver whose cab is hijacked by a hitman in "Collateral".
Foxx is widely expected to win for his brilliantly accurate portrayal of Charles. Starring as aviation trailblazer and Hollywood rebel, Hughes, DiCaprio also was nominated for best actor.
Other nominees in that category are Johnny Depp as "Peter Pan", playwright Barrie in "Finding Neverland", Eastwood as a cantankerous boxing trainer in "Million Dollar Baby" and Don Cheadle for "Hotel Rwanda," starring as hotel manager Paul Rusesabagina, who sheltered refugees from the Rwandan genocide.