Plenty of great films and stars were announced by presenters Jennifer Lawrence and Tom Sherak, but we can't help but feel that there were some obvious omissions from today's shortlists.
Here's Digital Spy's run-down of who we think they left out.
Nicolas Winding Refn's ultraviolent thriller Drive was a critical hit on release and the director even picked up a 'Best Director' win at Cannes last year.
Even if it was too leftfield for a 'Best Picture' nomination, Hossein Amini seemed like a fair bet for an 'Adapted Screenplay' nomination. But in their wisdom the Academy have given it just one nod, for 'Sound Editing'.
And even if all the blood turned the Academy off his performance in Drive, it seems incredible that Gosling wasn't recognised at all for his annus mirabilis, considering his turns in Ides of March and Crazy, Stupid, Love.
This oversight isn't news, as it first came up when the Asif Kapadia-directed documentary about F1 champion Aryton Senna failed to make the longlist for 'Best Documentary (Features)'. Despite that, it still feels utterly strange to see Senna missing from today's nominations.
Harry Potter and the Deathly Hallows: Part 2
The total lack of buzz in the last few weeks means that a lack of nominations in the major categories is no surprise, with the final part of JK Rowling's wizarding story picking up mentions only for 'Visual Effects', 'Art
The early Potter films were certainly not Oscar-standard, but the last few - including Deathly Hallows: Part 2 - were good enough to snaffle something big - and Alan Rickman in particular deserved a 'Best Supporting Actor' mention.
The other outstanding actor of our times was also conspicuous by his absence. If varied turns as Edward Rochester, Magneto and Carl Jung weren't enough to get the Academy's attention, his turn as sex addict Brandon Sullivan in Shame has already won countless nods elsewhere. Oh yes, Shame itself and its director Steve McQueen were also ignored by the voters.
The Adventures of Tintin
It got a mention for John Williams's score, but we're surprised that it didn't pop up in the 'Animated Feature Film' shortlist, given the presence of the middling Kung Fu Panda 2. We're not sure if this means that the motion capture Tintin doesn't count as animated, or just that the Academy were as mixed on it as the critics.
Uggie the Dog
We Need to Talk About Kevin
Loved by critics on the film festival circuit, director Lynne Ramsay's big comeback had a pair of storming performances from Tilda Swinton and Ezra Miller - neither made the cut in the 'Best Actress' and 'Supporting Actor' noms.
Tilda already has an Oscar on her mantlepiece (for Michael Clayton in 2007), however Ezra will have to play the waiting game. With such a promising turn in Kevin, though, we're convinced his time will come.
Not a surprise, perhaps, given Lars von Trier's big mouth, but while it was always an outside bet for a directing or picture nod, we thought that Kirsten Dunst had a fair shout for 'Best Actress'. And regardless of what you made of the plot or characters, Melancholia was undoubtedly visually stunning from beginning to end. It's the sort of film the 'Best Cinematography' category was made for.
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Which films and stars do you think the Academy wrongly snubbed at this year's nominations? Let us know your thoughts in the space below.