| Year | Nominated work | Award | Result |
| 2000 | Billy Elliot | BAFTA Award for Best Actor in a Leading Role | Won |
| British Independent Film Award for Best Newcomer | Won |
| Broadcast Film Critics Association Award for Best Young Performer | Won |
| Empire Award for Best Debut | Won |
| Evening Standard British Film Award for Most Promising Newcomer | Won |
| London Film Critics' Circle Award for British Newcomer of the Year | Won |
| National Board of Review Award for Outstanding Young Actor | Won |
| Young Artist Award for Best Young Actor in an International Film | Won |
| Chicago Film Critics Association Award for Most Promising Actor | Nominated |
| European Film Award for Best Actor | Nominated |
| Online Film Critics Society Award for Best Breakthrough Performance | Nominated |
| Satellite Award for Best Actor – Motion Picture Drama | Nominated |
| Screen Actors Guild Award for Outstanding Performance by a Male Actor in a Leading Role | Nominated |
| Screen Actors Guild Award for Outstanding Performance by a Cast in a Motion Picture | Nominated |
| Teen Choice Award for Choice Movie Breakout Performance | Nominated |
| 2001 | MTV Movie Award for Best Dance Sequence (shared with Julie Walters) | Nominated |
| 2002 | Nicholas Nickleby | National Board of Review Award for Best Cast | Won |
| Young Artist Award for Best Performance in a Feature Film – Leading Young Actor | Nominated |
| 2004 | Undertow | Young Artist Award for Best Performance in a Feature Film – Leading Young Actor | Won |
| 2005 | Peter Jackson's King Kong: The Official Game of the Movie | Spike Video Game Award for Best Cast | Won |
| 2007 | Hallam Foe | BAFTA Scotland Award for Best Actor | Nominated |
| British Independent Film Award for Best Actor | Nominated |
| 2008 | Jumper | MTV Movie Award for Best Fight (shared with Hayden Christensen) | Nominated |
| 2013 | Nymphomaniac | Bodil Award for Best Supporting Actor | Nominated |
| 2016 | Fantastic Four | Golden Raspberry Award for Worst Screen Combo (shared with Kate Mara, Michael B. Jordan, and Miles Teller) | Nominated |
| 2018 | Film Stars Don't Die in Liverpool | BAFTA Award for Best Actor in a Leading Role | Nominated |
