One of Carole's biggest dreams was to win an Academy Award but unfortunately she was never even nominated. She was invited to attend the Oscars three times as a presenter.
On February 27, 1941 she attended the 13th Academy Awards at the Biltmore hotel. Her film One Million B.C was nominated for. Carole's escort was Major General J. O. Mauborgne. She was wearing a pink satin dress that she had worn in Turnabout. When she walked down the grand stairway her slip fell out of her dress which caused a minor commotion!
On February 26, 1942 she attended the 14th Academy Awards at the Biltmore Hotel. Her film Topper Returns was nominated for Best Special Effects and Best Sound Recording. She wore a gown with a beaded top and a veil. At the ceremony she was seen talking with Linda Darnell and Lynn Bari.
On March 2, 1944 she attended the 16th Academy Awards at Grauman's Chinese Theater. Her escort was Major Gus Daymond, who was the best friend of her husband Tommy Wallace. She wore a white textured skirt with a black top and white gloves. When she arrived she was wearing a black fur coat. Carole presented the award for art direction to William Darling.