The 4th Filmfare Awards were held in May 5, 1957 at Bombay, honoring the best films in Hindi Cinema for the year 1956.Jhanak Jhanak Payal Baaje becomes biggest winner where it received Best Film of 1956 and Best Director, both for V. Shantaram.Jhanak Jhanak Payal Baaje has the highest nomination with four nominations which the film won all the nomination.Jhanak Jhanak Payal Baaje was followed by Bimal Roy's Devdas with three nomination, also won in all the respective nominations.
Dilip Kumar won his third Best Actor trophy for Devdas. Nutan won her first Best Actress trophy for Seema. The same event also witness actress Vyjayanthimala who won her first Filmfare in Supporting Actress category for Devdas declining her award as she thinks that her role was not supporting and was equally important as the other female lead in that film. She was the first person to decline an Filmfare Award, however she later won the Filmfare Best Actress trophy for Sadhna in 1958 and followed two more trophies.
While most of the nominated films was released in 1956, however some films which won most of the main awards were 1955 releases. Devdas, Jhanak Jhanak Payal Baaje, Seema and Shree 420 was a 1955 film but did not considered for the 3rd Filmfare Awards.