The third most nominations went to baseball movie Moneyball starring Brad Pitt and veteran director Steven Spielberg's equine epic War Horse, which each got six nods.
Hugo's nominations included the best picture category, where it is up against eight other movies including The Artist, which has been a favorite for the Oscars after a string of wins and nods in other awards show.
The other movies nominated for best picture are The Descendants, Extremely Loud and Incredibly Close, The Help, Midnight in Paris, Moneyball, The Tree of Life and War Horse.
The Artist star Jean Dujardin was nominated for best actor, up against Clooney in The Descendants, Pitt in Moneyball, Gary Oldman in Tinker Tailor Soldier Spy and Demian Bichir in A Better Life.
Best actress nominees included Meryl Streep, as expected, for her role as former British premier Margaret Thatcher in The Iron Lady.
Also shortlisted were Glenn Close for her cross-dressing role in Albert Nobbs, Viola Davis from civil rights drama The Help, Michelle Williams as Monroe in My Week with Marilyn and Rooney Mara from The Girl with the Dragon Tattoo.