Errol Flynn did not receive an Oscar nomination for portraying Peter Blood in Captain Blood.
Errol Flynn got his big break in Hollywood with this which was his first major role and it is easy to see how Flynn was able to propel himself to stardom with this performance. He plays Captain Blood as above else a dashing hero which he does very well. Flynn has a great deal of charm and natural charisma which is perfect for the role as it makes Blood instantly likable which he needs to be. He makes him an easy hero to like as well as to follow throughout his adventures through the film.
Flynn keeps his portrayal fairly light and he works best when he does so. His smile and his energy really do a great job of moving the story along in a breezy fashion. There are more serious moments to be had particularly early on when he is enslaved, but Flynn does not get too dark even with these moments. Still in the weightier moments Flynn is successful in being a serious when he needs to be even though it is obviously clear that he is best when he has a good time as he so easily transfers that good time he is having across screen that it is very easy for we as the audience to have a good time as well.
Flynn does have a single weak scene where he is most challenged when Blood becomes angry with his former owner played by Olivia de Havilland. He actually comes off as a little awkward in this scene and his charisma seriously takes a hit in the moment as it is clear that Flynn does not quite know how to handle the scene. Still it is not a downright terrible moment or anything, but it does suggest limitations to his ability as a performer as just does not appear comfortable in this scene where he does have to get a little deeper into the character of Captain Blood.
Luckily though Errol Flynn in every other scene other than the earlier scene referred to could not be more comfortable in the role. He gives a great leading role with a great deal of energy and really makes the movie an enjoyable ride thanks to his enjoyable performance. It is only clear that this is Flynn very first major leading role in his one scene where he does show a clear weakness in his portrayal thankfully that is only one scene and the rest of the time he could have been a leading man for several years considering the ease and effortless fashion in which he carries the rest of the film.