Guillermo del Toro's Oscar-Winning 'The Shape of Water' Returning to HBO Max

The acclaimed sci-fi fantasy film will be available to stream starting February 1, 2026.

Jan. 31, 2026 at 9:47am

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Guillermo del Toro's 2017 Best Picture-winning film 'The Shape of Water' is set to return to HBO Max on February 1, 2026. The romantic sci-fi fantasy, which won a total of four Oscars including Best Director for del Toro, follows a mute custodian who forms a deep bond with an amphibious creature held captive in a high-security government lab. The film was a critical and commercial success, grossing over $195 million worldwide on a $19.5 million budget.

Why it matters

The return of 'The Shape of Water' to HBO Max gives viewers a chance to revisit one of Guillermo del Toro's most acclaimed and award-winning films. As the director continues to make waves in Hollywood with projects like his recent Frankenstein adaptation, this streaming re-release allows fans to rediscover the unique vision and storytelling that made 'The Shape of Water' an Oscar-winning masterpiece.

The details

Set in 1962 Baltimore, 'The Shape of Water' centers on Elisa, a mute custodian at a high-security government facility, who discovers and forms a bond with an amphibious creature being held captive in one of the labs. Elisa hatches a plan to free the creature, known as 'The Amphibian Man,' before the cruel Colonel Strickland can continue experimenting on it. The film blends elements of del Toro's childhood memories of watching 'Creature from the Black Lagoon' with a romantic, fantastical story about the power of human connection.

  • The Shape of Water will be available to stream on HBO Max starting February 1, 2026.
  • The film originally premiered in theaters in December 2017 and went on to win the Academy Award for Best Picture in 2018.

The players

Guillermo del Toro

The acclaimed Mexican filmmaker who wrote, directed, and produced The Shape of Water, winning Oscars for Best Director and Best Picture.

Sally Hawkins

The English actress who starred as the film's lead character, Elisa, and was nominated for an Oscar for Best Actress for her performance.

Doug Jones

The American actor who portrayed the Amphibian Man, the film's central creature character.

Michael Shannon

The American actor who played the antagonist, Colonel Richard Strickland, in the film.

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What they’re saying

“The Shape of Water was one of my most romantic films to date. It takes inspiration from my childhood memories of watching Universal's Creature From the Black Lagoon.”

— Guillermo del Toro, Director

“It's very cruel, very violent. It's going back to the thriller aspects of Nightmare Alley.”

— Guillermo del Toro, Director

What’s next

Guillermo del Toro's next project after Frankenstein is expected to be the thriller Fury, which he has described as a departure from his creature-centric films. He is also developing a stop-motion adaptation of Kazuo Ishiguro's fantasy novel The Buried Giant for Netflix.

The takeaway

The return of The Shape of Water to HBO Max allows viewers to revisit one of Guillermo del Toro's most acclaimed and award-winning films, showcasing his unique blend of fantasy, romance, and social commentary that made the 2017 Best Picture winner a critical and commercial success.