In 1989 Nichols was presented the Golden Plate Award of the American Academy of Achievement by Awards Council member Diane Sawyer. He also received a Gala tribute from Film Society of Lincoln Center in 1999. In 2001, he received the Peabody Award for his HBO television film "Wit" which starred Emma Thompson. In 2003 he was awarded with the Kennedy Center Honors where he was honored by Elaine May, Meryl Streep, Candice Bergen and Tom Stoppard. In 2010 he was honored with the American Film Institute Lifetime Achievement Award where he was honored by Elaine May, Nora Ephron, Meryl Streep, Emma Thompson, Julia Roberts, Candice Bergen, Jack Nicholson, Dustin Hoffman, Tom Hanks, Robin Williams, Harrison Ford, and Shirley MacLaine.