Oscar winner Adrien Brody and Academy president Frank Piersen announced the result of the nominee balloting in a traditional sunrise ceremony.
The Aviator, starring Leonardo DiCaprio as playboy pilot Howard Hughes, received a total of eleven nods. The movie won the top honour at last week's Golden Globes, often seen as a good indicator of Oscar success.
DiCaprio is in the frame for best actor, while Scorsese is up for the best director award. Alan Alda and Cate Blanchett receive supporting role nominations.
Also faring well was Clint Eastwood's Million Dollar Baby and Johnny Depp's Finding Neverland, each picking up seven nominations.
Eastwood receives a nod for best director and, unexpectedly, for best actor. Co-star Hilary Swank is nominated for best actress, a title she won at the Globes.
The three films are joined in the best film category by Ray Charles biopic Ray and comedy Sideways. Depp, meanwhile, is considered an outsider as best actor.
British hopes include Kate Winslet, nominated for best actress for Eternal Sunshine Of The Spotless Mind, Imelda Staunton, also in the best actress category for Vera Drake, and Clive Owen, who gets a nod for best supporting actor with Closer.
Jamie Foxx appears twice in the list, with nominations for best actor and best supporting actor for Ray and Collateral respectively.
Shrek 2, The Incredibles and Shark Tale make up the nominees for best animated film.
Click here to see the list of nominees in full; let us know your views on the hopefuls below.