The pair joined a string of tired remakes and movie sequels led by the comedy adventure "Son of the Mask," which won eight nods when the shortlist was unveiled a day before Tuesday's Academy Award nominations.
Organisers say narrowing the worst picture nominees down to just five films posed an unprecedented challenge, although "Son of the Mask," a sequel to Jim Carrey's hit 1994 film "The Mask," was the clear frontrunner.
It earned nominations for worst picture, worst remake or sequel, worst actor for Jamie Kennedy, worst supporting actors for both Alan Cumming and Bob Hoskins, worst director for Lawrence Gutterman and worst screenplay.
Also competing for the dubious title of worst movie: the big-screen version of "The Dukes of Hazzard," hotel heiress Paris Hilton's horror film "House of Wax," the sex comedy "Dirty Love," and the sequel "Deuce Bigalow: European Gigolo."
Worst actor
Mr Cruise picked up a total of three nominations, as worst actor of 2005 in Steven Spielberg’s epic "War of the Worlds," and two in a new category, that of "most tiresome tabloid targets."
Battling Mr Cruise and Mr Kennedy for worst actor were: Rob Schneider, in "Deuce Bigalow: European Gigolo" Will Ferrell, with a double nomination for his work in "Bewitched," a movie version of a 1960s television show, and for "Kicking and Screaming;" and pro-wrestler turned actor The Rock, who starred in the video game spin-off "Doom."
Worst actress
Ms Lopez, a Razzie favourite following her "triumph" for 2003's "Gigli", is vying for what the organisers call the "di-stink-tion" as worst actress for her part as a beleaguered bride in "Monster-in-Law."
She is up against two double nominees, starlet Jessica Alba for both "The Fantastic Four" and "Into the Blue," and Hilary Duff for "Cheaper by the Dozen 2" and "The Perfect Man."
Other contenders for worst actress were Hollywood socialite Tara Reid, who won dishonour for attempting to play a "genius" anthropologist in "Alone in the Dark," and former Playboy playmate Jenny McCarthy in "Dirty Love."
Worst supporting actor
Ms McCarthy's "Dirty" co-star, another Playboy girl Carmen Electra, was also pegged with a nomination for worst supporting actress.
But she faces some stiff competition, with Paris Hilton also nominated for "House of Wax," Tom Cruise's fiancee Katie Holmes for "Batman Begins," singer Ashlee Simpson for "Undiscovered" and her sister Jessica Simpson for "Dukes of Hazzard".
Screen icon Burt Reynolds won double nods for worst supporting actor for both "Dukes of Hazzard" and football comedy "The Longest Yard."
He faces off against "Son of the Mask's" Mr Cumming and Mr Hoskins, Hayden Christensen for "Star Wars III" and Eugene Levy for "Cheaper by the Dozen 2".
Most tiresome tabloid targets
Hollywood glamour couple Tom Cruise and Katie Holmes were also singled out for nominations as the most tiresome tabloid targets of 2005, for "Oprah Winfrey's Couch, The Eiffel Tower and Tom's Baby" -- references to when the two lovebirds caused a firestorm with their engagement and pregnancy and when Mr Cruise made a spectacle of himself by leaping on Oprah’s sofa during a show as he expressed his love for Ms Holmes.
But the nominations of Paris Hilton, Britney Spears and her new family, the Simpson sisters and Jessica Simpson’s ex-husband Nick Lachey will give the couple tough competition for most tiresome tabloid target.
Worst director
Worst director candidates are John Asher for "Dirty Love," Ewe Boll for "Alone in the Dark," Nora Ephron for "Bewitched" and Gutterman for "Mask."
The “awards” will be announced at a not-so-glittering ceremony in Los Angeles on March 4, a day ahead of the kinder Academy Awards.
But the winners of the Razzies rarely turn up to accept their gold spray painted plastic raspberries, which organisers say are worth just over six dollars.