Action-packed dark comedy "One Battle After Another", directed by U.S. filmmaker Paul Thomas Anderson, leads the field with 14 nominations, followed by vampire thriller "Sinners", which has received the most nods for next month's Oscars.
"Sinners" has scored 13 BAFTA nominations, three fewer than its 16 for the Oscars. Wunmi Mosaku, up for best supporting actress, said the recognition for the film from critics and audiences felt "overwhelming, humbling and just bonkers".
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Norwegian film "Sentimental Value" is another strong contender, with eight nods.
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Stellan Skarsgard, up for best supporting actor, said the recognition for the low-budget film from both the British and American academies was fantastic.
"It's also a foreign film, but people have learnt to read subtitles, finally," he said.
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The 79th British Academy Film Awards will be held in London on Sunday evening, hosted by Scottish actor, TV presenter and director Alan Cumming.