The picture, depicting King George VI's struggle to overcome a crippling stammer, is nominated in 14 categories, closely followed by Black Swan, with 12 nods, and Inception, with nine.
Golden Globe winner Colin Firth will battle it out alongside Jesse Eisenberg (The Social Network), Javier Bardem (Biutiful), Jeff Bridges (True Grit) and James Franco (127 Hours) for the title of 'Leading Actor'.
The 'Leading Actress' prize will be contested between The Kids Are All Right duo Annette Bening and Julianne Moore, Black Swan's Natalie Portman, Hailee Steinfeld of True Grit and Noomi Rapace from The Girl With The Dragon Tattoo.
The 'Director' category finds British directors Danny Boyle (127 Hours), Christopher Nolan (Inception) and Tom Hooper (The King's Speech) facing off against David Fincher (The Social Network) and Darren Aronofsky (Black Swan).
The King's Speech is also up for the 'Outstanding British Film' along with 127 Hours, Another Year, Four Lions and Made in Dagenham.
