The British star, often cited as one of the best actors never nominated by the Academy, is tipped for a host of awards for his turn as George Smiley in the film version of Tinker, Tailor, Soldier, Spy.
Oldman, 53, was today given two nominations at the London Critics' Circle Awards - best actor and best British actor - for the role. Speaking to the Standard from his LA home, he said: "People talk about the Oscar buzz. It's very flattering. If it were to be, it were to be. I've never taken it personally. I'll believe it when I'm there. But it could be the one."
London-born Oldman said he was "very proud" of the adaptation of John le Carr?'s spy thriller, which also stars Colin Firth, John Hurt and Benedict Cumberbatch.
He said he was "chuffed" that it tops the nominations for the Critics' Circle Awards - equalling the six nods for Drive starring Carey Mulligan and Ryan Gosling - despite being snubbed by the Golden Globes last week. Winners will be announced on January 19.
"It's best of British. I can't think in recent years of a cast that has just, across the board, been this strong," he added.
Talks are already under way for a sequel with the story Smiley's People. Oldman said he would love to return to the part, having overcome his initial nerves at taking on the part made famous by Alec Guinness in the British TV series. "It gave me pause for thought for about a month before I said yes," he said.
Other projects involve a possible return to the London stage and directing another movie, the first since his 1997 debut, Nil by Mouth.
"I've been writing and nearly finished something that I'm planning hopefully to do in 2013. I can't talk about it but it's about an Englishman out here in the 19th century," he said.