The images feature vintage set and location photographs of legendary directors like D.W. Griffith, John Ford, Alfred Hitchcock, Billy Wilder, Stanley Kubrick and Steven Spielberg.
Many of the photos are the only known images of their subjects, including a group of eight behind-the-scenes colour shots of the filming of the opening sequence of Orson Welles’ 1958 noir classic, Touch of Evil.
Academy boss Ric Robertson says, "Marc’s dedication to preserving a historic photographic record of our industry has resulted in an extraordinary collection.
"We’re honoured to add these images to our library’s holdings. His photographs, so many of which focus on behind-the-scenes studio activities, combined with the existing Herrick photographs, will provide unequalled coverage on all aspects of Hollywood filmmaking."
Bison Archives was named in tribute to the Bison Company, an early motion picture studio, formed in 1909, that produced Westerns featuring Native American casts.
Wanamaker began amassing the collection in 1971, while he was researching a book on the history of the American motion picture studios.