Rocksteady Studios' superhero sequel and Rockstar's hard-boiled detective drama both scooped eight nominations each, including best game, music, design, artistic achievement and story.
Following hot on their heels were Naughty Dog's globetrotting adventure Uncharted 3: Drake's Deception and Media Molecule's sandbox platform game LittleBigPlanet 2 with six nominations, while Portal 2 and The Elder Scrolls V: Skyrim scored five each.
Meanwhile, a shortlist of ten titles was also revealed for the publicly-voted GAME Award of 2011, the winner of which can be chosen by visitors to the GAME Award website.
Arkham City, Battlefield 3, Call of Duty: Modern Warfare 3, FIFA 2012, LA Noire, Minecraft, Portal 2, Skyrim, Uncharted 3 and The Legend of Zelda: Skyward Sword are all in contention to claim the prize.
Those who take part in the vote will also be in with a chance of winning a limited edition Star Wars Xbox 360 console, complete with a Kinect sensor and copy of Kinect Star Wars.