1931

1. City Lights (Charles Chaplin)
2. Scarface (Howard Hawks)
3. M (Fritz Lang)
4. Dr. Jekyll and Mr. Hyde (Rouben Mamoulian)
5. Frankenstein (James Whale)
6. The 3 Penny Opera (G.W. Pabst)
7. The Smiling Lieutenant (Ernst Lubitsch)
8. The Public Enemy (William A. Wellman)
9. Dracula (Tod Browning)
10. Tabu: A Story of the South Seas (F.W. Murnau)

Honorable Mentions:
Indiscreet (Leo McCarey), Little Caesar (Mervyn LeRoy), Arrowsmith (John Ford), Night Nurse (William A. Wellman), Rich and Strange (Alfred Hitchcock), The Champ (King Vidor), The Skin Game (Alfred Hitchcock)