Yes. The Godfather (1972) and The Godfather: Part II (1974) won the Oscar for Best Picture.
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The Godfather 2
Godfather Part 1- 3 Oscars Godfather Part 2- 6 Oscars Godfather Part 3- Nominated 7 Oscars
Al Pacino played the Godfather (Michael Corleone) in Godfather 2. Marlon Brando played the Godfather (Vito Corleone) in Godfather 1 Al Pacino is also the Godfather in Godfather 3, until he passes the title to his brother's illegitimate son Vincent (Andy Garcia) towards the end of the movie.
The original was simply called 'The Godfather'; the sequels were called 'The Godfather: Part II' and 'The Godfather: Part III'.
Per www.thegodfathertrilogy.com/gfstats.html, the original budget for the first Godfather movie was $1 million. The actual budget ended up at $6.2 million.