Lincoln is leading the 2013 Oscar nominations after being entered in 12 categories.
Steven Spielberg's presidential biopic, starring Daniel Day-Lewis and Sally Field, scored big with nods in major categories including Best Picture and Best Director.
Its leading man Day-Lewis also looks set for an Oscar hat-trick after being nominated for his role as the late US leader in the film.
Day-Lewis, who has previously won Oscars for My Left Foot and There Will Be Blood, will go head-to-head in the Best Actor category with Denzel Washington (Flight), Hugh Jackman (Les Miserables), Bradley Cooper (Silver Linings Playbook) and Joaquin Phoenix (The Master).
Beasts of the Southern Wild's Quvenzhané Wallis made history after becoming the youngest actress to be nominated in the Best Actress category for her breakthrough role in the independent fantasy film.
The nine-year-old star will face strong competition from Naomi Watts for The Impossible, Jessica Chastain for Zero Dark Thirty, Jennifer Lawrence for Silver Linings Playbook and Emmanuelle Riva for Amour.
Skyfall had been tipped to become the first ever Bond film to be nominated for a Best Picture Oscar but missed out on the prestigious accolade.
While stars Daniel Craig, Dame Judi Dench and director Sam Mendes all failed to get a mention, Adele's Best Original Song nomination for the theme song, as well as nominations for cinematography and technical recognition for sound, saved the British film from a complete snub.
The winners of the Oscars will be announced on February 24th, with the ceremony aired live on ABC from Hollywood's Dolby Theatre.
The nominees for the 85th annual Academy Awards were read out by Family Guy creator Seth MacFarlane, who will be hosting next month's ceremony, and Hollywood actress Emma Stone.
The winners will be announced at Hollywood's Dolby Theatre in Los Angeles on 24 February.