Sir Michael and Sir Derek are both shortlisted for best actor
Sirs Michael Gambon and Derek Jacobi are among those shortlisted for London theatre's most prestigious prizes, the Laurence Olivier Awards.
Sir Michael, who has already won four Oliviers, is up for best actor for his role in Harold Pinter's No Man's Land.
Sir Derek's work in Twelfth Night has also won him a best actor nomination, alongside Rain Man's Adam Godley and Sir Michael's co-star David Bradley.
David Tennant, though, misses out on a nod for his performance as Hamlet.
Margaret Tyzack and Penelope Wilton go head to head in the best actress category for their work in the Donmar Warehouse's production of The Chalk Garden.
Lindsay Duncan is also recognised for That Face, as is US actress Deanna Dunagan for the National Theatre's production of August: Osage County.
Musical La Cage Aux Folles leads the field with seven mentions on the shortlist, including best musical revival.
Douglas Hodge and Denis Lawson are both up for best actor in a musical for their roles in the show, currently running in the West End with Graham Norton in the lead.
Piaf, which transferred from the Donmar Warehouse to the Vaudeville, has five nominations - including best actress in a musical for Elena Roger.
Argentinian star Roger is recognised for her portrayal of Edith Piaf
Gregory Burke's critically acclaimed play Black Watch, based on interviews the Scottish writer conducted with former soldiers who served in Iraq, also has five nominations.
Alan Ayckbourn's The Norman Conquests and the Royal Shakespeare Company's production of The Histories attracted four nominations each.
So did August: Osage County, which was staged in Chicago and New York ahead of its London run.
Last year the Weinstein Company announced it planned to make a film of Tracy Letts' play, winner of the 2008 Pulitzer Prize for drama.
The Donmar Warehouse has 13 nominations in all, shared between its work at its Covent Garden base and its successful residency at the Wyndham's.
"I'm delighted that so many of our productions have been honoured," said Michael Grandage, the Donmar's artistic director.
"It has been a big year for the Donmar and it has been made possible because a lot of people have put their hearts and souls into everything we've done."
The annual awards will be handed out at London's Grosvenor House on 8 March.
West End musical Hairspray was the big winner at last year's ceremony, winning four awards in total.