In 2010, the Festival opened with Darren Aronofsky's Black Swan; the opening screening was attended by President Giorgio Napolitano. Ten years after the death of Vittorio Gassman, the Festival honoured one of the most extraordinary personalities of Italian cinema with the screening of Vittorio racconta Gassman, una vita da Mattatore, a documentary based on footage of the actor speaking about his career. The jury of the 67th Venice Film Festival awarded the Golden Lion for Best Film in Competition to Somewhere, directed by Sofia Coppola. The Golden Lion for Lifetime Achievement went to legendary Hong Kong movie director John Woo. Among the stars appearing on the red carpet were Natalie Portman, Vincent Cassel, Jessica Alba, Elle Fanning, Stephen Dorff, Ben Affleck, Jon Hamm, Rebecca Hall, Vincent Gallo, Willem Dafoe, Catherine Deneuve, Helen Mirren, Paul Giamatti, John Turturro, Monte Hellmann, Takashi Miike, Marco Bellocchio, Alessandro Gassman, and Kim Rossi Stuart. The 2010 edition saw the Orizzonti section thrown open to a vast range of productions. Even more so than in previous years, Orizzonti became the reference section for the more innovative and experimental filmmakers. The retrospective section was dedicated to Italian comedies and was titled La situazione comica (1937-1988).

In 2011, through an agreement with the City of Venice a radical renovation restored the historic Sala Grande (1937) to its original style. The whole walkway leading from the Hotel Excelsior to the Casino Palace was refurbished. The Lion's Bar was completely redeveloped focusing on quality design also for the adjacent areas. The festival opened with the American film The Ides of March, directed by George Clooney. Italian filmmaker Marco Bellocchio, among the most influential directors in the Italian filmmaking industry and one of the undisputed masters of contemporary cinema, was awarded the Golden Lion for Lifetime Achievement. American actor and film director Al Pacino was presented with the 2011 Jaeger-LeCoultre Glory to the Film-maker Award. Out of Competition, Al Pacino also presented the world premiere of his film Wilde Salome. The Persol 3D award went to the Zapruder Filmmakers Group, which, for many years, had been exploring the possibilities of stereoscopic film for the production of films and installations that borrow the techniques of 3-D cinema. The L’Oréal Paris cinema award went to Nicole Grimaudo.
Jury members Eija-Liisa Ahtila, David Byrne, Todd Haynes, Mario Martone, Alba Rohrwacher, André Téchiné, and jury president Darren Aronofsky awarded the Golden Lion to Faust by Russian director Aleksander Sokurov. Among the stars appearing on the Lido red carpet in 2011, in addition to George Clooney and Al Pacino, were Philip Seymour Hoffman, Paul Giamatti, Evan Rachel Wood, Kate Winslet, Christoph Waltz, Madonna, Abbie Cornish, Keira Knightley, Viggo Mortensen, Michael Fassbender, Monica Bellucci, Louis Garrel, Gwyneth Paltrow, Matt Damon, Laurence Fishburne, James Franco, Jessica Chastain, Gary Oldman, Colin Firth, Willem Dafoe, Emile Hirsch, David Cronenberg, Steven Soderbergh, Abel Ferrara, Johnnie To, and William Friedkin. The retrospective section was titled Orizzonti 1961-1978 and was dedicated to Italian avant-garde films of the 1960s-70s.

The 69th Festival in 2012 saw Alberto Barbera as the new artistic director alongside remarkable new initiatives: the launch of Biennale College - Cinema, a higher education training workshop for the development and production of micro-budget audio-visual works, and the establishment of the Venice Film Market in dedicated spaces at the Excelsior Hotel. As part of the renovation – in agreement with the City of Venice – of the existing facilities of the Festival, which included the restoration of the Sala Grande in 2011, a new, larger and more functional foyer in the Palazzo del Cinema was built to welcome the public. The intervention also included the renovation of two historic screening rooms, the Pasinetti and Zorzi, for an overall extension of 50 more seats.
The retrospective was titled «80!» on the occasion of the 80th anniversary of the Venice Film Festival (1932-2012) and presented unique copies of films thought to be lost but actually existing in the Biennale's ASAC archive collections. This was complemented by the Venice Classics section of restored classic films. The opening film was Mira Nair's The Reluctant Fundamentalist; the Golden Lion for Lifetime Achievement was given to Italian director Francesco Rosi, who received the award from Giuseppe Tornatore. The main jury chaired by Michael Mann awarded the Golden Lion to Pieta by Kim Ki-duk and the Silver Lion and the Coppa Volpi for best actor to The Master by Paul Thomas Anderson and the two actors Philip Seymour Hoffman and Joaquin Phoenix. Among the stars that were on the red carpet, Robert Redford (his first-time attendance on the Lido), Michael Cimino (Persol Award), Spike Lee (Jaeger-LeCoultre Glory to the Film-maker Award), Brian De Palma, Jonathan Demme, Kate Hudson, Liev Schreiber, Winona Ryder, Michael Shannon, Ray Liotta, Pierce Brosnan, Michael Fassbender, Isabelle Huppert, Claudia Cardinale, Noomi Rapace, Kristin Scott Thomas, Olga Kurylenko, Emmanuelle Seigner, Takeshi Kitano, Peter Brook, Liliana Cavani, Marco Bellocchio, Toni Servillo, Valerio Mastandrea, Barbora Bobulova and teen-idols such as Selena Gomez, Vanessa Hudgens, Zac Efron, James Franco, and Shia LaBeouf.