Singin' in the Rain was named the tenth greatest American film ever made by the AFI, but was overlooked in the 1952 Best Picture race in favor of High Noon, Ivanhoe, Moulin Rouge, The Quiet Man, and the winner The Greatest Show on Earth. The only nominee to make the AFI list was High Noon at number 33.

The only nine films to be judged superior to Singin' in the Rain by the AFI were Citizen Kane, Casablanca, The Godfather, Gone With the Wind, Lawrence of Arabia, The Wizard of Oz, The Graduate, On the Waterfront, and Schindler's List. All of the top nine were nominated, although Citizen Kane, The Wizard of Oz, and The Graduate didn't win.

The highest ranked film on the list not to receive any Oscar nominations was the 1933 version of King Kong, which was listed as number 43. Ironically, the retched 1976 remake received two nominations and a special award for its visual effects.