Meryl Streep and Michelle Williams are going head to head for this year's best actress Oscar, while Gary Oldman has clinched his first ever Oscar nod.
Meryl, who has won two Academy Awards, has retained her record as the most-nominated actress, raising her total to 17 nominations.
She is strongly tipped to pick up the statuette for her performance as former prime minister Margaret Thatcher in The Iron Lady, while Michelle is nominated for her role as Marilyn Monroe in My Week With Marilyn.
They are up against Rooney Mara for The Girl With The Dragon Tattoo, Glenn Close for Albert Nobbs, and Viola Davis for The Help.
In the best actor category, Oldman picked up his first ever nomination for his role as spy boss George Smiley in Tinker Tailor Soldier Spy.
He is up against George Clooney for The Descendants, Brad Pitt for Moneyball, Jean Dujardin for silent movie The Artist and Demian Bichir for Spanish-language A Better Life.
Battling it out for best film are War Horse, The Artist, Moneyball, The Descendants, Tree Of Life, Midnight in Paris, The Help, Hugo, and Extremely Loud And Incredibly Close.
Kenneth Branagh received a supporting actor nod for playing Sir Laurence Olivier in My Week With Marilyn. He faces competition from Jonah Hill, Nick Nolte, Christopher Plummer, and Max von Sydow. In the supporting actress category are Berenice Bejo, Jessica Chastian, Melissa McCarthy, Janet McTeer and Octavia Spencer.
McCarthy is a rare funny lady competing at the Oscars, which rarely honour performances in mainstream comedies such as Bridesmaids.
Notable omissions include Tilda Swinton for We Need To Talk About Kevin, Carey Mulligan and Michael Fassbender for Shame, Leonardo DiCaprio for J Edgar, and Ryan Gosling for Drive.