The 59-year-old is hot favourite to add to his Golden Globe, Screen Actors Guild Awards and Critics’ Choice Movie Award for the wartime epic Darkest Hour – which received six nominations.
It caps a remarkable year for Oldman in which he was also nominated for a Bafta.
Asked recently about his new standing in Hollywood he said: “We have today but there’s no guarantee we’ll get tomorrow. So enjoy the moment.”
The 90th Academy Awards also nominated UK stars Daniel Day-Lewis and Daniel Kaluuya as Oldman’s main rivals in the best actor category.
Triple Oscar-winner Day-Lewis, 60, was nominated for his role in Phantom Thread while Kaluuya, 28, was selected for horror film Get Out.
The list also includes Denzel Washington in Roman J. Israel, Esq. and Timothee Chalamet in Call Me By Your Name.
Britain’s Christopher Nolan is in the frame for best director for Dunkirk, which received eight nominations.
Another Briton, Sally Hawkins is up for best actress for fantasy drama The Shape Of Water against Meryl Streep for The Post, Margot Robbie in I, Tonya and favourite Frances McDormand for Three Billboards Outside Ebbing, Missouri.
The Oscars takes place on March 4.