Ceremony for the 20th Hong Kong Film Awards was held on 29 April 2001 in the Hong Kong Cultural Centre and hosted by Eric Tsang, Carol Cheng, Gigi Leung and Eric Ng.

The year's biggest winner was Crouching Tiger, Hidden Dragon, which received eight awards, one award short of the record set by Comrades: Almost a Love Story in 1997.

Over eighty nominees were in a contest for sixteen award categories.

The front runners were Crouching Tiger, Hidden Dragon and In the Mood for Love, with sixteen and twelve nominations respectively.

Winners are listed first, highlighted in boldface, and indicated with a double dagger (‡).