The film, which is set in Rome and has been compared to Federico Fellini’s 1960s classic, La Dolce Vita, will compete in the best foreign language film category in the awards to be announced on 14th January, the Hollywood Foreign Press Association said on Thursday.
The Golden Globes are often seen as a precursor to the Oscars, which are announced in March. La Grande Bellezza is also Italy's contender for best foreign language film in the Oscars, the nominations for which will be announced two days after the Golden Globes.
Italy's last Oscar was Roberto Begnini's La Vita e Bella (Life in Beautiful) in 1999.
Sorrentino said in October he would do "everything" for his film to be nominated for the coveted award. READ MORE HERE: Italy's Oscar hopeful plugs film in Hollywood
"I know it's a long and difficult road but we'll do all we can, with screenings, dinners and promotions," he said.
Born in Naples in 1970, Sorrentino is also known for his film about the late former Italian Prime Minister Giulio Andreotti, Il Divo, which won the Jury Prize at Cannes in 2008.