While attending the amfAR gala in New York Gala, the 63-year-old film producer gave a shout-out to DiCaprio, 41, on stage at the star-studded occasion, reported Us magazine.
DiCaprio was also in attendance and sat next to him.
"As an Academy member, you're not supposed to endorse anyone up for an Academy Award, but I have to say Leo DiCaprio is so amazing in 'The Revenant'," Weinstein told the crowd.
Weinstein's film studio, the Weinstein Company, previously produced the actor's 2012 gritty drama "Django Unchained".
DiCaprio has been having a stellar awards season so far, racking up wins at the Golden Globes and Screen Actors Guild Awards. The actor is a frontrunner to win an Oscars this time.
He will next go up against Matt Damon, Michael Fassbender, Bryan Cranston and Eddie Redmayne for the Oscar in the Outstanding Performance by a Male Actor in a Leading Role category.
