For the 14th Academy Awards, it was nominated for Best Picture, Greenstreet was nominated for Best Supporting Actor, and Huston for Best Adapted Screenplay.
It was one of the first 25 films selected by the Library of Congress for inclusion in the National Film Registry as "culturally, historically, or aesthetically significant".
The American Film Institute included it and a quote in the following lists:
- 1998 – AFI's 100 Years...100 Movies – No. 23
- 2001 – AFI's 100 Years...100 Thrills – No. 26
- 2005 – AFI's 100 Years...100 Movie Quotes:
- "The stuff that dreams are made of." – No. 14. The expression is based on Act 4 of William Shakespeare's play The Tempest, wherein Prospero says, "We are such stuff / As dreams are made on".
- 2007 – AFI's 100 Years...100 Movies (10th Anniversary Edition) – No. 31
- 2008 – AFI's 10 Top 10 – No. 6 Mystery Film
