It’s the moment we’ve all been waiting for. The 2011 Academy Award nominees have been announced! As you might suspect, plenty of awards season favorites made the cut this morning including: Black Swan, Toy Story 3, The Fighter, and of course The Social Network. Who’s going to win what? View the full list of nominees and check out the competition below….

Best Motion Picture of the Year

  • Black Swan
  • The Fighter
  • Inception
  • The Kids Are All Right
  • The King’s Speech
  • 127 Hours
  • The Social Network
  • Toy Story 3
  • True Grit
  • Winter’s Bone

Achievement in Directing

  • Darren Aronofsky, Black Swan
  • David O. Russell, The Fighter
  • Tom Hooper, The King’s Speech
  • David Fincher, The Social Network
  • Joel Coen and Ethan Coen, True Grit

Performance by an Actor in a Leading Role

  • Javier Bardem, Biutiful
  • Jeff Bridges, True Grit
  • Jesse Eisenberg, The Social Network
  • Colin Firth, The King’s Speech
  • James Franco, 127 Hours

Performance by an Actor in a Supporting Role

  • Christian Bale, The Fighter
  • John Hawkes, Winter’s Bone
  • Jeremy Renner, The Town
  • Mark Ruffalo, The Kids Are All Right
  • Geoffrey Rush, The King’s Speech

Performance by an Actress in a Leading Role

  • Annette Bening, The Kids Are All Right
  • Nicole Kidman, Rabbit Hole
  • Jennifer Lawrence, Winter’s Bone
  • Natalie Portman, Black Swan
  • Michelle Wiliams, Blue Valentine

Performance by an Actress in a Supporting Role

  • Amy Adams, The Fighter
  • Helena Bonham Carter, The King’s Speech
  • Melissa Leo, The Fighter
  • Hailee Steinfeld, True Grit
  • Jacki Weaver, Animal Kingdom

Best Animated Feature Film of the Year

  • How to Train Your Dragon
  • The Illusionist
  • Toy Story 3

Original Screenplay

  • Another Year, Written by Mike Leigh
  • The Fighter, Screenplay by Scott Silver, Paul Tamasy and Eric Johnson. Story by Keith Dorrington, Paul Tamasy and Eric Johnson
  • Inception, Written by Christopher Nolan
  • The Kids Are All Right, Written by Lisa Cholodenko and Stuart Blumberg
  • The King’s Speech, Screenplay by David Seidler

Adapted Screenplay

  • 127 Hours, Screenplay by Danny Boyle & Simon Beaufoy
  • The Social Network, Screenplay by Aaron Sorkin
  • Toy Story 3, Screenplay by Michael Arndt. Story by John Lasseter, Andrew Stanton and Lee Unkrich
  • True Grit, Written for the screen by Joel Coen and Ethan Coen
  • Winter’s Bone, Adapted for the screen by Debra Granik and Anne Rosellini

Best Foreign Language Film of the Year

  • Biutiful (Mexico)
  • Dogtooth (Greece)
  • In a Better World (Denmark)
  • Incendies (Canada)
  • Outside the Law (Hors-la-loi, Algeria)

Original Score

  • John Powell, How to Train Your Dragon
  • Hans Zimmer, Inception
  • Alexandre Desplat, The King’s Speech
  • A.R. Rahman, 127 Hours
  • Trent Reznor and Atticus Ross, The Social Network

Original Song

  • “Coming Home,” Music and Lyrics by Tom Douglas, Troy Verges and Hillary Lindsey (Country Strong)
  • “I See the Light,” Music by Alan Menken; Lyrics by Glenn Slater (Tangled)
  • “If I Rise,” Music by A.R. Rahman; Lyrics by Dido and Rollo Armstrong (127 Hours)
  • “We Belong Together,” Music and Lyrics by Randy Newman (Toy Story 3)

Achievement in Art Direction

  • Alice in Wonderland
  • Harry Potter and the Deathly Hallows Part I
  • Inception
  • The King’s Speech
  • True Grit

Achievement in Cinematography

  • Black Swan, Matthew Libatique
  • Inception, Wally Pfister
  • The King’s Speech, Danny Cohen
  • The Social Network, Jeff Cronenweth
  • True Grit, Roger Deakins

Achievement in Costume Design

  • Alice in Wonderland, Colleen Atwood
  • I Am Love, Antonella Cannarozzi
  • The King’s Speech, Jenny Beavan
  • The Tempest, Sandy Powell
  • True Grit, Mary Zophres

Best Documentary Feature

  • Exit through the Gift Shop
  • Gasland
  • Inside Job
  • Restrepo
  • Waste Land

Best Documentary Short Subject

  • Killing in the Name
  • Poster Girl
  • Strangers No More
  • Sun Come Up
  • The Warriors of Qiugang

Achievement in Film Editing

  • Black Swan, Andrew Weisblum
  • The Fighter, Pamela Martin
  • The King’s Speech, Tariq Anwar
  • 127 Hours, Jon Harris
  • The Social Network, Angus Wall and Kirk Baxter

Achievement in Makeup

  • Barney’s Version
  • The Way Back
  • The Wolfman

Best Animated Short Film

  • Day & Night
  • The Gruffalo
  • Let’s Pollute
  • The Lost Thing
  • Madagascar, carnet de voyage (Madagascar, a Journey Diary)

Best Live Action Short Film

  • The Confession
  • The Crush
  • God of Love
  • Na Wewe
  • Wish 143

Achievement in Sound Editing

  • Inception
  • Toy Story 3
  • Tron: Legacy
  • True Grit
  • Unstoppable

Achievement in Sound Mixing

  • Inception
  • The King’s Speech
  • Salt
  • The Social Network
  • True Grit

Achievement in Visual Effects

  • Alice in Wonderland
  • Harry Potter and the Deathly Hallows Part I
  • Hereafter
  • Inception
  • Iron Man 2

The Academy Awards for outstanding film achievements of 2010 will be presented on Sunday, February 27, 2011, at the Kodak Theatre at Hollywood & Highland Center, and televised live by the ABC Television Network. The Oscar presentation also will be televised live in more than 200 countries worldwide.

What do you think of this year’s nominees? Who should win what?