In 1980, he won an Oscar for his work on the film The Black Stallion. He did not attend the Academy Award ceremony and became the butt of several jokes by host Johnny Carson throughout the remainder of the telecast. He was later nominated for the Academy Award for Best Sound Mixing for Never Cry Wolf. In 1995, The motion picture Sound Editors union posthumously honored Splet with a Lifetime Achievement Award for his creative contributions to the field of cinema audio.
Splet was married to sound effects designer Ann Kroeber, and collaborated with her on most of his projects from 1979 until his death in 1994.