Washington is nominated for Best Actor and as a producer for his work in "Fences."
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The film takes place in the 1950s where Washington plays a father trying to get by and raise his family.
"Fences" was written by the late August Wilson, in a play that earned Washington a Tony Award during its 2010 Broadway run.
"August Wilson goes deep and you have to go back to it... because there's more than you think," said Washington, who also directed the adaptation.
"We have to infuse this with as much love for each other as we can, especially Viola and I," Washington explained. "You have to believe that these people love each other in order for what happens to really mean something."
Viola Davis is nominated for Best Supporting Actress for the film. She starred opposite Washington in the Broadway production and was also awarded a Tony.
Washington has long been an admirer of her work.
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"I cast Viola Davis 16 years ago in 'Antwone Fisher.' I knew how great she was then. I'm not surprised," he shared.
Washington won his first Oscar for his supporting role in 1989's "Glory."
He took home the Oscar for Best Actor more than a decade later in 2001's "Training Day." Washington credits his dedication to his craft as the key to his success in show business.
"Keep working at your craft and keep growing with your craft... Movie star is something they call you. Celebrity is something that they call you. I'm a human being and my profession is acting," Washington said. "So I'm an actor. I'm just a popular actor."
Don't miss the 89th Oscars on Sunday, Feb. 26 at 7 p.m. ET| 4 p.m. PT LIVE on ABC. Red carpet coverage begins at 5 p.m. ET/2 p.m. PT with "On The Red Carpet At The Oscars." Check your local listings.