Farrell is nominated as Best Supporting Actor for his role in Saving Mr Banks while Fassbender is shortlisted in the same category for his part in 12 Years A Slave.
Also nominated are Edward MacLiam for Run & Jump and Peter McDonald in the comedy, The Stag.
Brendan Gleeson and his son Domhnall go head-to-head in the Best Film Actor category — Brendan for Calvary and Domhnall for his part in the romantic drama About Time. Ciarán Hinds, The Sea, and Andrew Scott, The Stag, are also nominated for Best Lead Actor.
Jamie Dornan, who has just finished filming his role as Christian Grey in 50 Shades of Grey, has been nominated for a Best Lead Actor in Television award for his part in The Fall. He is up against Love/Hate’s Tom Vaughan Lawlor (aka Nidge), Chris O’Dowd for Moone Boy and Gabriel Byrne for Quirke.
Allen Leech is nominated for Best Supporting Actor in television for his role in Downton Abbey. In the same category are Liam Cunningham and Aidan Gillen in Game of Thrones and Peter Coonan as Fran in Love/Hate.
Antonia Campbell-Hughes is nominated for Best Actress with her 3096 Days performance, alongside Saoirse Ronan in Byzantium. They are joined by new acting talents Jane McGrath, who performs in the Irish boy-racer film Black Ice and Kelly Thornton for her part in the family saga Life’s a Breeze.
Sinead Cusack is nominated for Supporting Actress in Film for the Sea alongside Fionnula Flanagan for Life’s a Breeze. Amy Huberman is up for The Stag and Orla O’Rourke for her performance in Calvary.
In television, Deirdre O’Kane has been shortlisted for her role as Mrs Moone in Moone Boy. Eva Birthistle’s performance in Amber has ensured her nomination alongside Love/Hate’s Mary Murray and Charlie Murphy.
Ronan O’Gara’s ROG documentary has been nominated in the Sports category, and Donal Walsh’s My Story has also been shortlisted for Best Documentary.
The 2014 Irish Film and Television Awards, dubbed ‘the Irish Oscars’, will see the best of Ireland’s acting and creative talent on show, including Saoirse Ronan, Chris O’Dowd and Amy Huberman.
IFTA announced the shortlist of nominees in 40 categories for the 11th annual awards ceremony. Nominations were announced in categories across film and television, celebrating the best of homegrown talent over the past 12 months.
Academy CEO Áine Moriarty said: “This year’s nominations showcase to the world what Ireland’s small but excellent film and television community has to offer.
“Their hard work over the last 12 months has delivered world-class standards with some of the most diverse and engaging Irish films, dramas and documentaries along with great entertainment and factual programmes,” she said.
“We look forward to acknowledging and celebrating the great work of the home industry on the ceremony night ahead.”