The movie was written by Arthur Laurents and David Rayfiel (uncredited) and directed by Sydney Pollack.
It won Academy Awards for Best Music, Original Dramatic Score and Best Music, Song (Marvin Hamlisch, Alan Bergman and Marilyn Bergman for "The Way We Were"), and was nominated for Best Actress in a Leading Role (Barbra Streisand), Best Art Direction-Set Decoration, Best Cinematography and Best Costume Design.