Io Sì (Seen), a power ballad from the soundtrack to the movie La vita davanti a sé (The Life Ahead), won a Golden Globe award two weeks ago.
The film stars Italian icon Sophia Loren and is directed by her son, Edoardo Ponti.
The original English-language version of the track was written by Diane Warren, specifically for the film, with Pausini and Niccolò Agliardi composing the Italian version.
Pinocchio, Garrone’s magical retelling of the 1883 classic book The Adventures of Pinocchio by Carlo Collodi, has received two Oscar nominations: one for costumes, the other for makeup.
The film stars Federico Ielapi as Pinocchio and Roberto Benigni as the puppet’s father, Geppetto.
It is the second live-action Pinocchio film to star comic great and Life Is Beautiful Oscar-winner Benigni, following the 2002 adaptation of the fairytale.
There was disappointment for Gianfranco Rosi, whose documentary Notturno had been shortlisted for an Oscar nomination but failed to make the final cut.
News of Italy’s Oscar hopes comes a week after the announcement that the Oscar-winning Italian actress Sophia Loren is to be honoured by the Academy Museum of Motion Pictures.
The long-awaited Los Angeles venue, designed by Italian architect Renzo Piano, is set to open in late September after long delays due to the coronavirus pandemic.
A talking point this year is the Oscar nomination of two female directors for the first time in almost a century of the Academy Awards.
They are Chloe Zhao and Emerald Fennell, respectively for Nomadland and Promising Young Woman.
Chadwick Boseman, the actor who died prematurely of cancer last year, has earned a posthumous Oscar nomination for his performance in Ma Rainey’s Black Bottom.
The 93rd edition of the Oscars award ceremony is scheduled to take place in Hollywood on April 25.