TV series Da Vinci's Demons received six nominations, with Doctor Who and Y Gwyll/Hinterland receiving five each.
Doctor Who's Peter Capaldi is up against Hinterland's Richard Harrington and Rhys Ifans (Dan y Wenallt) for best actor.
Nominations were announced on Wednesday with the presentations in September.
The awards ceremony takes place at the St David's Hall, Cardiff.
Swansea City football documentary Jack to a King has received five nominations.
It is the 24th annual British Academy Cymru Awards, that recognise excellence in broadcasting and production in film and television in Wales.
Set Fire to the Stars has been nominated in the feature/television film category, for original music by Gruff Rhys, make-up and hair, photography and lighting, writer, costume design and production design.
In the factual programming category, Michael Sheen's Valleys Rebellion will go up against Jamie Baulch: Looking for my Birth Mum and Malcolm Allen: Cyfle Arall, for the single documentary award.
The factual series category will be contested by RAF Fighter Pilot: Rhod Gilbert's Work Experience, Adam Price a Streic y Glowyr and Great Welsh Writers: Dannie Abse.
Michael Sheen and Rhod Gilbert are nominated for the best presenter award, along with poet Owen Sheers for Dylan Thomas, A Poet's Guide.
Bafta Cymru director Hannah Raybould said: "It's been an outstanding year for television and film talent working in Wales.
"Across all categories we've seen an excellent breadth of programmes and individuals represented - in both languages, and from those starting out in their careers to the very experienced."
A breakthrough award will also be given to an emerging professional who has made a significant impact in television or film in the past year.
Host Huw Stephens called the night "a celebration of all the hard work that goes into making some incredible programmes and films".
Dylan Thomas biopic Set Fire to the Stars has received seven nominations for this year's Bafta Cymru awards.