He will be vying for the Best Actor in a Supporting Role at the 89th Academy Awards, to be held here on February 26.
Other nominees are Mahershala Ali ("Moonlight"), Jeff Bridges ("Hell or High Water") and Michael Shannon ("Nocturnal Animals").The nominees were announced on Tuesday by actor Terrence Howard.
Patel, who lost the Best Performance by an Actor in a Supporting Role award to Aaron Taylor-Johnson at the 74th Golden Globes, had told earlier: "I would be lying if I say that awards are not amazing. Awards can really change someone's career. You get recognition. You might get scripts that you didn't get earlier. But I never took up a project thinking about a golden statue."