- In 2004, received Golden Globe Award for Best Performance by an Actor in a Supporting Role in a Motion Picture
- In 2004, received Screen Actors Guild Award for Outstanding Performance by a Male Actor in a Supporting Role
- In 2004, received Academy Award for Best Actor in a Supporting Role
- In 2004, received Broadcast Film Critics Association Award for Best Supporting Actor
- In 2003, received Boston Society of Film Critics Award for Best Ensemble Cast
- In 1999, received National Board of Review Award for Special Achievement in Filmmaking
- In 1997, received Sundance Film Festival Award for Tribute to Independent Vision
- In 1996, received Humanitas Prize for Feature Film
- In 1994, received Golden Globe Award for Best Ensemble Cast
- In 1994, received National Board of Review Award for Best Acting by an Ensemble
- In 1993, received Venice Film Festival Award for Best Ensemble Cast
- In 1993, received Golden Globe Award for Best Performance by an Actor in a Motion Picture - Comedy/Musical
- In 1992, received Cannes Film Festival Award for Best Actor
