The Baftas are shaping up into a right royal battle between Britain and America.
UK blockbuster The King's Speech picked up 14 nominations, but the controversial US movie Black Swan was just behind on 12.
Black Swan, which stars Natalie Portman, is in contention for best actress while Colin Firth is hoping to pick up best actor for his role as a stammering George VI in The King's Speech.
Firth and Portman took home the best actor and actress awards at the Golden Globes on Sunday and their Bafta nominations bode well for success at the Oscars later this year.
There was no shortage of British interest in the Bafta nominations. Director Christopher Nolan's film Inception was nominated in nine categories, while Danny Boyle's drama 127 Hours was nominated in eight.
Meanwhile, Pete Postlethwaite, who died earlier this month, received a posthumous supporting actor nomination for his role in The Town. James Bond star Gemma Arterton received a nomination for the Rising Star Award.
Deputy Bafta chairman David Parfitt said: "It's a very good year for the Brits.
"Even some of the American films that are nominated have British directors. British film has always punched above its weight in the film world.."
Other nominees in best actor category include Javier Bardem, for his role in Biutiful, Jeff Bridges in True Grit, Jesse Eisenberg in The Social Network and James Franco in 127 Hours.
Portman is up against Annette Bening and Julianne Moore for The Kids Are All Right, Noomi Rapace for The Girl With The Dragon Tattoo and Hailee Steinfeld for True Grit.
The Baftas will be held on February 13 and will be hosted by Jonathan Ross. Last year, Iraq war drama The Hurt Locker won six awards.
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