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Peter Jackson's The Lord of the Rings: The Fellowship of the Ring won the award for Best Film, Best Director and Best Makeup & Hair. Gosford Park, directed by Robert Altman, was voted Best British Film of 2001. Russell Crowe won the award for Best Lead Actor in A Beautiful Mind. A Beautiful Mind also won the award for Best Actress in a Supporting Role (Jennifer Connelly). Judi Dench won the award for Best Actress in a Leading Role for her role in Iris. Jim Broadbent (Moulin Rouge!) won the award for Best Supporting Actor.

After he won Best Actor Crowe gave a speech in which he quoted a poem by Patrick Kavanagh. When the show was aired the Crowe was upset that the poem was cut and blamed the director Malcolm Gerrie and confronted him about it. It was reported that the confrontation got physical and there was speculation that it would cost him the Oscar.