The film recieved three Academy Awards from eight nominations: Best Picture, Best Director (Comedy) and Best Ensemble in a Comedy Film. This was Capra's third Oscar for Best Director in just five years, following It Happened One Night (1934) and Mr. Deeds Goes to Town (1936). It was also the highest-grossing picture of the year.
- Best Picture: Columbia Pictures
- Best Director (Comedy): Frank Capra
- Best Ensemble Cast in a Comedy Film: Jean Arthur, Lional Barrymore, James Stewart, Edward Arnold, Mischa Auer, Ann Miller, Spring Byington, Samuel S. Hinds, The Three Stooges, Buster Keaton, Milton Berle, Ethel MErman, Donald Meek, H.B. Warner, Halliwell Hobbes, Dub Taylor, Charlie Chaplin, Mickey Rooney, Mary Forbes, Lillian Yarbo, Eddie Anderson, Charles Lane, Judy Garland, Harry Davenport, Ian Wolfe, Ward Bond, Greta Garbo, Robert Cummings, Fay Wray and many others.
The Film recieved a perfect "100%" Certified Fresh rating on Rotten Tomatoes.