"The Nightfly" was nominated for seven awards at the 25th Annual Grammy Awards in 1983, including Album of the Year and Best Engineered Recording – Non-Classical. "I.G.Y." received the most nominations, included on lists for Song of the Year, Best Pop Vocal Performance, Male, and Best Instrumental Arrangement Accompanying Vocal(s), while "Ruby Baby" received a nod for Best Vocal Arrangement. In addition, Gary Katz was nominated for Producer of the Year. In 2000, it was voted number 288 in Colin Larkin's "All Time Top 1000 Albums", and in 2006, it was included in Robert Dimery's "1001 Albums You Must Hear Before You Die". In 2010, Vatican City's "L'Osservatore Romano" selected "The Nightfly" as one of its official Top 10 Albums.