At the 14th Academy Awards, the film was nominated for Best Original Story for Monckton Hoffe but Here Comes Mr. Jordan (Harry Segall) proved victorious. In that year, 1941, the National Board of Review nominated the film for "Best Picture", and "The New York Times" named it as the best film of the year in their "10 Best Films of 1941" list. In 1994, "The Lady Eve" was selected for preservation in the United States National Film Registry by the Library of Congress as being "culturally, historically, or aesthetically significant."