The nominees were announced on 24 February 1997. The front runners were Peter Chan's Almost a Love Story and Benny Chan's Big Bullet, with eleven and nine nominations respectively.
{{Award category|#eedd82|Best Film}}- Almost a Love Story{{double-dagger}}
- Entrance of the P-Side
- Big Bullet
- First Strike
- Viva Erotica
| {{Award category|#eedd82|Best Director}}- Peter Chan — Almost a Love Story{{double-dagger}}
- Benny Chan — Big Bullet
- Derek Yee and Law Chi-leung — Viva Erotica
- Derek Chiu — The Log
- Shu Kei — Entrance of the P-Side
|
{{Award category|#eedd82|Best Screenplay}}- Ivy Ho — Almost a Love Story{{double-dagger}}
- Raymond To — Entrance of the P-Side
- Rico Chung — Once Upon A Time in Triad Society
- Rico Chung — Once Upon A Time in Triad Society 2
- Lee Chi-Ngai — Lost and Found
- Cheung Chi-Sing — Love and Sex Among the Ruins
| {{Award category|#eedd82|Best Actor}}- Kent Cheng — The Log{{double-dagger}}
- Sean Lau — Big Bullet
- Leon Lai — Almost a Love Story
- Michael Wong — First Option
- Jackie Chan — First Strike
- Leslie Cheung — Viva Erotica
|
{{Award category|#eedd82|Best Actress}}- Maggie Cheung — Almost a Love Story{{double-dagger}}
- Josephine Siao — Entrance of the P-Side
- Karen Mok — God of Cookery
- Gong Li — Temptress Moon
- Sandra Ng — 4 Faces of Eve
| {{Award category|#eedd82|Best Supporting Actor}}- Eric Tsang — Almost a Love Story{{double-dagger}}
- Jordan Chan — Big Bullet
- Jerry Lamb — The Log
- Elvis Tsui — Viva Erotica
- Anthony Wong — Young and Dangerous 3
- Simon Yam — To Be No. 1
|
{{Award category|#eedd82|Best Supporting Actress}}- Shu Qi — Viva Erotica{{double-dagger}}
- Law Lan — 13 July
- Theresa Lee — Big Bullet
- Theresa Lee — Who's the Woman, Who's the Man
- Anita Yuen — Entrance of the P-Side
- May Law — Bodyguards of Last Governor
| {{Award category|#eedd82|Best New Performer}}- Shu Qi — Viva Erotica{{double-dagger}}
- Annie Wu — First Strike
- Theresa Lee — Who's the Woman, Who's the Man
- Kristy Yeung — Almost a Love Story
- Daniel Chan — Entrance of the P-Side
|
{{Award category|#eedd82|Best Film Editing}}- Peter Cheung and Cheung Ka-fai — Big Bullet{{double-dagger}}
- Peter Cheung and Yau Chi-Wai — First Strike
- Chan Kei-Hop — First Option
- David Wu — Somebody Up There Likes Me
- Eric Kwong and Shu Kei — Entrance of the P-Side
| {{Award category|#eedd82|Best Cinematography}}- Jingle Ma — Almost a Love Story{{double-dagger}}
- Arthur Wong — Somebody Up There Likes Me
- Arthur Wong — Big Bullet
- Christopher Doyle — Temptress Moon
- Poon Hang-Sang — Shanghai Grand
|
{{Award category|#eedd82|Best Art Direction}}- Kenneth Yee — Almost a Love Story{{double-dagger}}
- Kenneth Yee — Who's the Woman, Who's the Man
- Eddie Ma and Bill Lui — Black Mask
- Wong Hap-Kwai — Temptress Moon
- Bruce Yu — Shanghai Grand
| {{Award category|#eedd82|Best Costume Make Up Design}}- Dora Ng — Almost a Love Story{{double-dagger}}
- Dora Ng — Who's the Woman, Who's the Man
- Tomas Chan — 4 Faces of Eve
- Bruce Yu — Shanghai Grand
- William Fung and Kwan Mei-Bo — Black Mask
|
{{Award category|#eedd82|Best Action Choreography}}- Stanley Tong — First Strike{{double-dagger}}
- Yuen Wo Ping — Black Mask
- Tung Wai — Shanghai Grand
- Tony Ching and Ma Yuk Sing
— Dr. Wai and the Scripture Without Words - Ma Yuk Sing — Big Bullet
- Bruce Law — First Option
| {{Award category|#eedd82|Best Original Film Score}}- Chiu Jun-Fun — Almost a Love Story{{double-dagger}}
- Clarence Hui and Chiu Jun-Fun and Lau Cho-Tak
— Viva Erotica - Lau Yee Tat — The Log
- Peter Kam — Big Bullet
- Chiu Jun-Fun and Peter Kam — The Age of Miracles
|
{{Award category|#eedd82|Best Original Film Song}}- 風花雪 — Lost and Found{{double-dagger}}
- Composer: Mark Lui
- Lyricist: Chow Lai Mau
- Singer: Kelly Chen
- 色情男女 — Viva Erotica
- Composer: Jason Choi
- Lyricist: Albert Leung
- Singer: Karen Mok and Jordan Chan
- 有心人 — Who's the Woman, Who's the Man
- Composer: Leslie Cheung
- Lyricist: Albert Leung
- Singer: Leslie Cheung and Anita Mui
- 默契 — Feel 100%... Once More
- Composer: Chan Kwok Wah
- Lyricist: Erica Lee
- Singer: Sammi Cheng
|
1. ^{{cite web|title=List of Awardees of The 16th Hong Kong Film Awards|url=http://www.hkfaa.com/winnerlist16.html |website=hkfaa.com |publisher=Hong Kong Film Awards|accessdate=13 March 2017}}
2. ^{{cite web|title=The 16th Hong Kong Film Awards (1997)|url=http://award.mtime.com/17/1997/|website=Mtime.com Inc|accessdate=13 March 2017}}
3. ^{{cite web|title=The 16th Annual Hong Kong Film Awards|url=http://www.lovehkfilm.com/features/hkfa_1996.htm|website=Love HK Film|accessdate=13 March 2017}}
4. ^{{cite web|title=Hong Kong Film Awards for 1997|url=https://www.imdb.com/event/ev0000329/1997|website=IMDB|accessdate=13 March 2017}}