The Real Thing has been nominated for several awards, including Best Play at the New York Drama Critics Circle Awards. Mike Nichols was nominated for Outstanding Director of a Play at the Drama Desk Awards, while Tharon Musser received a nomination for Outstanding Lighting Design. Tom Stoppard was nominated for Outstanding Play, and Tony Walton was nominated for Outstanding Set Design, both at the Drama Desk Awards. Jeremy Irons received the Distinguished Performance Award at the Drama League Awards. The show was also nominated for Best Broadway Play at the Outer Critics Circle Awards.