The Favourite's Australian duo Fiona Crombie and Tony McNamara are frontrunners to win Oscars at the February 24 ceremony.
Australian star wattage will be dialled down at next month's Academy Awards, but expect Oscar gold to be shining bright in the hands of Sydney duo Fiona Crombie and Tony McNamara.
Nicole Kidman, Toni Collette, Margot Robbie and Troye Sivan were among a long list of high-profile contenders who missed out at Tuesday's Oscar nomination ceremony in Beverly Hills.
A tsunami of support instead propelled the aptly named period drama-comedy The Favourite to capture 10 nominations including best picture, directing for Yorgos Lanthimos, lead actress for Olivia Colman, supporting actress for Emma Stone and Rachel Weisz, production design for Crombie and original screenplay for McNamara.
"We are all gobsmacked," McNamara, in London working on a new project with Lanthimos, told AAP.
"We're elated because we all pretty much got a nomination."
Roma, the Netflix black-and-white Spanish-language drama by Mexican master filmmaker Alfonso Cuaron, also picked up 10 nominations.
Crombie and McNamara are favourites to win their categories at the February 24 Academy Awards ceremony for their work on The Favourite, a story set in early 18th Century Britain involving a love triangle and power struggle between Queen Anne and two cousins.
Crombie's greatest competition is Black Panther's Hannah Beachler, who became the first African-American to be nominated in the category.
Black Panther, with seven nominations, also made history by becoming the first superhero film to earn a best picture nod.
Joining The Favourite, Roma and Black Panther in the best picture category were BlacKkKlansman, Bohemian Rhapsody, Green Book, A Star Is Born and Vice.
A Star Is Born and Vice scored eight nominations each while Green Book and Bohemian Rhapsody collected five.
A month ago Kidman was a legitimate contender for two acting nominations - lead actress for Destroyer and supporting actress for Boy Erased - but her campaign stumbled with mixed reviews, misses at other awards shows and the rise of other candidates.
Collette was considered an outside nomination chance for her performance in Hereditary.
The best actress nominees are: Glenn Close (The Wife), Lady Gaga (A Star Is Born), Olivia Colman (The Favourite), Melissa McCarthy (Can You Ever Forgive Me?) and Yalitza Apariciao (Roma).
Close has become the frontrunner for her powerful performance as the neglected wife of a Nobel Prize-winning author and the fact she is due for a win after six nominations but no statuette.
If the 71-year-old Close is overlooked this year she will hold the dubious record of being the actress with the most nominations and no wins.
Robbie is up for a supporting actress trophy for her role in Mary Queen of Scots at this weekend's Screen Actors Guild Awards in Los Angeles, but missed out on an Oscar nod.
Regina King (If Beale Street Could Talk) is favourite for the supporting actress Oscar ahead of Stone, Weisz, Amy Adams (Vice) and Marina de Tavira (Roma).
Christian Bale, who stacked on 20kg to play former US Vice President Dick Cheney in Vice, is a narrow frontrunner for best actor.
A Star Is Born's Bradley Cooper, a surprise overlook for best director, is expected to pick up sentimental votes to challenge Bale for lead actor.
Rami Malek, for portraying British rock god Freddie Mercury in Bohemian Rhapsody, is also a chance after a boost from this month's Golden Globe win while Viggo Mortensen, for Green Book, is also a legitimate best actor contender.
Joining Lanthimos and Cuaron in the directing category are Vice's Adam McKay, Cold War's Pawel Pawlikowski and BlacKkKlansman's Spike Lee.
Green Book's Peter Farrelly was another surprise directing omission.
The failure of the Academy to nominate a female director, despite acclaimed work by Marielle Heller (Can You Ever Forgive Me?), Debra Granik (Leave No Trace), Chloe Zhao (The Rider) and Mimi Leder (On the Basis of Sex), also raised eyebrows.
Perth pop star Sivan received a Golden Globe nomination in the original song category for Revelation from Boy Erased earlier this month, but Oscar voters were not so kind.
Cooper and Gaga, who also may get consolation votes for losing to Close for best actress, are favourites for best original song for their duet Shallow from A Star is Born.