The Irish actor is among the early favourites to win an Academy Award.
The In Brugesstar is among the front runners for Best Actor for his role in the five-star film The Banshees of Inisherin.
Ladbrokes bets the prize will go to Farrell at odd of 8/1.
Farrell’s The Banshees of Inisherinco-star Brendan Gleeson is nowhere to be seen in early runnings just yet.
Neither star have seen Oscars glory yet in their careers, but it is expected the upcoming film will change things.
Described as “shudderingly funny,” the movie tells the story of two men whose friendship abruptly falls apart with serious consequences.
Up-and-coming star Barry Keoghan also plays a role in the movie that has critics ecstatic and audiences on their feet.
The film famously received a 15-minute standing ovation at the Venice Film Festival, an ordeal Farrell dubbed as “tiring.”
"I tried to leave about the seventh minute, when my ego felt good enough that I'd had enough,” he told Stephen Colbert this week. “I tried to leave and they said you can't leave until everyone stops clapping.”
"That's when you start going down and signing autographs and I was then told that was breaking the f***ing rules as well.”
Other names taking on Oscars buzz are Brendan Fraser at 6/5 odds, ‘Elvis’ star Austin Butler at 7/1 and Hugh Jackman at 8/1.
Nicholas Cage is tipped at 14/1 with Adam Driver, Ryan Gosling and Viggo Mortensen right behind him.
Harry Styles is fighting 20/1 odds of taking home one of the most coveted awards in the movie business.
Bill Nighy, Brad Pitt, Alexander Skarsgard, Timothee Chalamet and Anthony Hopkins also sit at 20/1 odds according to Ladbrokes.