| Year | Award | Category | Nominated work | Result | Ref. |
| 1994 | Young Artist Award | Best Performance by an Actor Under Ten in a Motion Picture | Forrest Gump | Won | |
| 1996 | Best Performance in a Feature Film – Actor Age Ten or Under | Bogus | Nominated |
| Best performance in a television comedy or drama by a supporting young actor age ten or under | The Jeff Foxworthy Show | Nominated |
| 1997 | Best performance in a television comedy or drama by a supporting young actor age ten or under | The Jeff Foxworthy Show | Nominated |
| YoungStar Award | Best performance by a young actor in a made–for–television movie | Last Stand at Saber River | Nominated |
| 1998 | Young Artist Award | Best performance in a television comedy series by a young actor age ten or under | Murphy Brown | Nominated |
| Best performance in a television drama series by a guest starring young actor | Walker, Texas Ranger | Nominated |
| 1999 | YoungStar Award | Best performance by a young actor in a miniseries or made–for–television movie | Cab to Canada | Nominated |
| 1999 | Academy Award | Best Supporting Actor | The Sixth Sense | Nominated | |
| Blockbuster Entertainment Award | Favorite Actor – Newcomer (Internet Only) | Won | |
| Boston Society of Film Critics | Best Supporting Actor | Nominated | |
| Chicago Film Critics Association | Best Supporting Actor | Nominated | |
| Most Promising Actor | Nominated | |
| Critics Choice Association | Best Young Performer | Won | |
| Dallas–Fort Worth Film Critics Association | Best Supporting Actor | Won | |
| Florida Film Critics Circle | Best Supporting Actor | Won | |
| Golden Globe Awards | Best Supporting Actor – Motion Picture | Nominated | |
| Kansas City Film Critics Circle | Best Supporting Actor | Won | |
| Las Vegas Film Critics Society | Best Supporting Actor | Won | |
| Youth in Film | Won |
| Most Promising Actor | Won |
| MTV Movie Awards | Best Male Breakthrough Performance | Won | |
| Best On-Screen Duo (With Bruce Willis) | Nominated |
| National Society of Film Critics | Best Supporting Actor | Nominated | |
| Online Film Critics Society | Best Supporting Actor | Won | |
| Best Debut | Nominated | |
| Satellite Award | Best Performance by a Younger Actor | Won | |
| Screen Actors Guild | Outstanding Performance by a Male Actor in a Supporting Role | Nominated | |
| Southeastern Film Critics Association | Best Supporting Actor | Won | |
| Teen Choice Awards | Choice Breakout Performance | Won |
| Young Artist Award | Leading Young Actor | Won |
| YoungStar Award | Best Young Actor Performance in a Motion Picture Drama | Won |
| 2000 | Blockbuster Entertainment Award | Favorite Supporting Actor – Drama/Romance | Pay It Forward | Won |
| Young Artist Award | Best Performance in a Feature Film – Leading Young Actor | Nominated |
| 2001 | Broadcast Film Critics Association | Best Young Performer | Artificial Intelligence | Nominated |
| Empire Awards | Best Actor | Nominated |
| Phoenix Film Critics Society | Best Youth Performance | Nominated |
| Saturn Award | Best Performance by a Younger Actor | Won |
| Young Artist Award | Best Performance in a Feature Film – Leading Young Actor | Nominated |
| ShoWest | Supporting actor of the year | — | Won | |
| 2002 | Young Artist Award | Best Performance in a Voice-Over Role | The Hunchback of Notre Dame II | Nominated | |
| 2003 | Critics Choice Award | Best Young Actor in Drama | Secondhand Lions | Won |
| Young Artist Award | Best Performance in a Feature Film – Leading Young Actor | Nominated |
| World Soundtrack Awards | Best Original Song Written for a Film (Shared with Paul Grabowsky, Lorraine Feather, Mae Whitman, and Connor Funk) | The Jungle Book 2 | Nominated |
| Young Artist Award | Best Performance in a Voice-Over Role – Young Actor | Nominated |
| 2022 | Screen Actors Guild | Outstanding Performance by an Ensemble in a Comedy Series | The Kominsky Method | Nominated | |
