The 42-year-old actor - who co-wrote, produced and starred in the movie, where he plays an 86 year-old man - is proud of the fact his film could win one of the most esteemed awards in the movie business for Best Make-Up and Hairstyling.
Johnny told USA Today newspaper: "A film associated with Jackass [franchise, known for its wild and often puerile stunts] is nominated for an Oscar.
"It's a big deal. We're very honoured. It also makes us giggle. You know what we do."
In the movie Johnny plays Irving Zisman, who is on a journey across America with his eight year-old grandson, and their stunts and the trouble they got into was filmed in the real world, capturing the reactions of the general public.
The film's make-up artist, Stephen Prouty - who will collect the award should the film win - said it provided one of he biggest challenges of his career.
He said: "We had to fool the public every day with these set-ups. It was like no other film I've done."
Johnny spent three hours a day having his make-up applied to fool people as Irving.
He added: "Without the make-up there is no movie. I cannot prank people on the street as me. The job was so stellar that not once did anyone realise it was make-up. Everyone bought that I was an old man. And that's unbelievable."
The 'Jackass Presents: Bad Grandpa' team will find out if they triumph over 'The Lone Ranger' and 'Dallas Buyers Club' to take the Best Make-Up and Hairstyling award when the Oscars winners are announced on March 2.