The nominations for the 90th Academy Awards have been announced, with The Shape of Water leading the field.
Others include Steven Spielberg's The Post, gay romance Call Me By Your Name and Winston Churchill drama Darkest Hour.
Oldman's performance as Churchill has already won the British actor a Golden Globe and a Screen Actors Guild award.
To win the Oscar, though, he will have to beat three-time best actor winner Day-Lewis, nominated again for Phantom Thread.
Mary J Blige makes Oscars history
Gary Oldman among best actor nominees
Another best actress nomination for Streep