The critically acclaimed musical movie was listed in 14 categories, tying 1997's 'Titanic' record for the most Academy Award nominations.
As well as a nod for Best Picture, leads Ryan Gosling and Emma Stone are also up for their respective Best Actor in a Leading Role and Best Actress in a Leading Role awards whilst Damien Chazelle is nominated in the Best Director category. The movie also features in the Best Original Screenplay list as well as Best Cinematography, Best Sound Editing, Best Sound Mixing and Best Production Design.
'La La Land' songwriters are also set to go head to head after two tracks from the movie - 'Audition (The Fools Who Dream)' and 'City of Stars' - were nominated in the Best Original Song category.
And in the Best Picture category, 'La La Land' will have to fight it out with the likes of 'Arrival' - who received eight nominations in total - as well as 'Fences', 'Lion', 'Manchester By The Sea' and 'Moonlight'.
'Moonlight' also received a further seven nominations across the board including a nod for Naomie Harris in the Actress in a Supporting Role category and Mahershala Ali for Actor in a Supporting Role.
Ali will also have to compete with 'Lion's Dev Patel for the coveted award whilst Nicole Kidman will go head to head with Harris and 'Fences' Viola Davis.
Meanwhile, there were also eight nominations for science fiction film 'Arrival' including one for Best Director for Denis Villeneuve.
'Manchester By The Sea' and 'Lion' received six nominations apiece with Casey Affleck securing a nod for his leading role.
In the Best Actor in a Leading Role category, Casey will be vying to win over 'Hacksaw Ridge's Andrew Garfield, 'Captain Fantastic's Viggo Mortensen and 'Fences' Denzel Washington.
Natalie Portman also receives one of the three nominations for her movie 'Jackie' and will go up against Stone, Meryl Streep, Isabelle Huppert and Ruth Negga for the Best Actress in a Leading Role gong.
The 89th Academy Awards will take place at the Dolby Theatre at the Hollywood & Highland Center on Sunday February 26.
Abridged list of nominations for the 89th Academy Awards:
Best Actor in a Leading Role
Casey Affleck, 'Manchester By The Sea'
Andrew Garfield, 'Hacksaw Ridge'
Ryan Gosling, 'La La Land'
Viggo Mortensen, 'Captain Fantastic'
Denzel Washington, 'Fences'
Best Actor in a Supporting Role
Mahershala Ali, 'Moonlight'
Jeff Bridges, 'Hell or High Water'
Lucas Hedges, 'Manchester by the Sea'
Dev Patel, 'Lion'
Michael Shannon, 'Nocturnal Animals'
Best Actress in a Leading Role
Isabelle Huppert, 'Elle'
Ruth Negga, 'Loving'
Natalie Portman, 'Jackie'
Emma Stone, 'La La Land'
Meryl Streep, 'Florence Foster Jenkins'
Best Actress in a Supporting Role
Viola Davis, 'Fences'
Naomie Harris, 'Moonlight'
Nicole Kidman, 'Lion'
Octavia Spencer, 'Hidden Figures'
Michelle Williams, 'Manchester by the Sea'
Best Animated Feature Film
'Kubo and the Two Strings'
'My Life as a Zucchini'
'The Red Turtle'
'La La Land'
Denis Villeneuve, 'Arrival'
Mel Gibson, 'Hacksaw Ridge'
Damien Chazelle, 'La La Land'
Kenneth Lonergan, 'Manchester by the Sea'
Barry Jenkins, 'Moonlight'
Best Music (Original Score)
Mica Levi, 'Jackie'
Justin Hurwitz, 'La La Land'
Dustin O'Halloran and Hauschka, 'Lion'
Nicholas Britell, 'Moonlight'
Thomas Newman, 'Passengers'
'Hell or High Water'
'La La Land'
'Manchester by the Sea'