The 62-year-old actor - who directed and plays the lead role in the drama film, based off the late August Wilson's famous play - was thrilled to see the movie had been nominated for four Academy Awards including a Best Actor in a Lead Role for himself.
He said in a statement: "Thank you to the Academy for this wonderful recognition and for honouring August Wilson's brilliant words.
"I am just lucky to have been entrusted with this project and to have the chance to work with the amazing Viola Davis and the rest of my talented cast and crew."
Whilst Constanza Romero Wilson, the wife of August Wilson, added: "I am overjoyed that August's work is being recognized, and that millions of people are getting the chance to see 'Fences'. I feel he would be incredibly proud of the love and care that everyone involved, especially Denzel, invested to make this film possible."
And producer Todd Black also celebrated the nominations - which included one for Best Picture - and praised the film's cast and crew who "brought the words of August Wilson to life".
He said: "I could not be more excited and grateful to the Academy for recognising our film. Extending my congratulations to Denzel and Viola and the rest of the fantastic cast and crew of 'Fences' who brought the words of August Wilson to life. This is a very special day, and I am just thrilled right now."
Meanwhile, Viola Davis - who secured a nomination for Best Actress In A Supporting Role for her part as Troy's wife Rose Maxson - had a special mention for her on-screen husband.
She shared: "Thank you to the Academy for recognising this extraordinary, important film and my work in it. Thank you Denzel for being at the helm!"
'Fences' is set in the 1950s and follows the story of Pittsburgh sanitation worker Troy who dreamed of becoming a baseball star but struggled with rejection after finding out he was too old to follow his dream. Plagued by his thoughts of what could have been leads him to a decision which has effects on the whole of his family.