The 79-year-old actor is nominated for the Best Supporting Actor prize at next month's ceremony for his role in 'The Irishman' and he thinks it's "cool" that he could be in with a chance of winning one of the prestigious accolades for the first time since he took home Best Actor in 1993 for 'Scent of a Woman', the same year he was also nominated for Best Supporting Actor for 'Glengarry Glen Ross'.
Although Al had been tipped to make the shortlist, he tried not to listen to the speculation and still got a "rush" when he was given the news earlier this week.
He told People magazine: "The idea of it being the first [nomination] in a long time, well, that's cool. But I guess, just getting an Oscar nomination, it's just, how about it just makes you feel good? It really does.
"I've experienced it. There was a lot of talk about [a possible nomination], and I thought, 'Well, I don't know.' And then when they told me I was nominated for it, it did give me a rush, and it did make me feel very good."
The Netflix movie is nominated for 10 Oscars, including another Best Supporting Actor nod for Joe Pesci, Best Director for Martin Scorsese and the prestigious Best Picture.
The filmmaker recently admitted he was "honoured" that 'The Irishman' had done so well in the nominations list.
He said in a statement: "I'm honoured that our work on 'The Irishman' has been honored by the Academy with these nominations. We put all of ourselves into this picture, a true labour of love, and to be recognised in this way means a great deal to all of us."