Transformers: Age of Extinction, which made more than $1bn at the worldwide box office, has seven nominations including worst picture and screenplay.
Director Michael Bay has also been nominated for a Razzie, which launched in 1980 as a spoof of the Oscars.
Kirk Cameron's Saving Christmas and The Legend of Hercules received six nods.
They join action comedy Teenage Mutant Ninja Turtles - another Michael Bay production - and Nicolas Cage's thriller Left Behind in the worst picture category.
Other notable nominees include Cameron Diaz, who is cited for her roles in romantic comedies The Other Woman and Sex Tape as well as worst supporting actress in the remake of Annie.
Seth MacFarlane, who hosted the Oscars in 2013, also has a number of nominations for his comic western, A Million Ways to Die in the West.
He joins Bay in the worst director category and is nominated for "worst screen combo" with Charlize Theron, who is also up for worst actress.
MacFarlane is also in the running for worst actor alongside The Legend of Hercules' Kellan Lutz, Cameron, Cage and Adam Sandler.
Sandler is no stranger to the Razzies, having received 10 nominations for worst actor and won three times.
A new category has also been launched to honour a past Razzie winner for a critically acclaimed role.
Online voters will choose between Ben Affleck, Jennifer Aniston, Mike Myers, Keanu Reeves and Kristen Stewart for this year's "redeemer" award.
The winners of the spray-painted golden raspberry statues will be announced at a ceremony on the eve of the Academy awards in February.
The full list of nominees is as follows:
Worst Picture
Worst Actor
Worst Supporting Actor
Worst Actress
Worst Supporting Actress
Worst Director
Worst Remake, Rip-off or Sequel
Worst Screen Combo
Worst Screenplay
Redeemer Award
The fourth entry in the Transformers franchise leads this year's Razzie nominations, which single out the worst movies of the last 12 months.