The King's Speech, in which Colin Firth plays stammering British monarch George VI, has earned 14 BAFTA nominations ahead of the ballet drama Black Swan which garnered 12.
The nominations were announced in London on Tuesday.
Inception, starring Leonardo DiCaprio, was the next most recognised film at Britain's top cinema honours with nine nominations, Reuters reports.
Climbing story 127 Hours and Western remake True Grit had eight nominations apiece.
The Social Network, one of the films most widely tipped for Oscars glory this year, got six nominations.
The BAFTAs are followed closely as the awards season gets into full swing, although they have only a patchy record in identifying future Oscar winners.
On Sunday, Firth won best actor at the Golden Globe Awards for The King's Speech, while Black Swan's Natalie Portman won the best actress category.
Firth and Portman have been nominated in these categories for a BAFTA. The winners will be announced on 13 February.