The Oscar in the Best Visual Effects category went to Godzilla Minus One. The visual effects team of the film comprises Takashi Yamazaki, Kiyoko Shibuya, Masaki Takahashi, and Tatsuji Nojima. It is the first occasion where a Godzilla franchise film has won an Oscar in any category and where a Japanese production won for visual effects.

Takashi Yamazaki directed Godzilla Minus One, while Ishirô Honda, Takashi Yamazaki, and Takeo Murata wrote its screenplay. The film revolves around the emergence of a monstrous creature named Godzilla in a WWII-hit Japan. It is one of the many films in the Kaiju film franchise where the creature is portrayed as an antagonist.

Also nominated in the category include The Creator (Jay Cooper, Ian Comley, Andrew Roberts, and Neil Corbould); Guardians of the Galaxy Vol. 3 (Stephane Ceretti, Alexis Wajsbrot, Guy Williams, and Theo Bialek); Mission: Impossible - Dead Reckoning Part One (Alex Wuttke, Simone Coco, Jeff Sutherland, and Neil Corbould); and Napoleon (Charley Henley, Luc-Ewen Martin-Fenouillet, Simone Coco, and Neil Corbould).