While Sylvester is in the running for the Best Supporting Actor accolade, his co-star Michael B Jordan and director Ryan Coogler, who are both black, have not been nominated.
The actor has now revealed that he considered boycotting the ceremony over the row, and their lack of nominations, telling reporters at the Oscar nominees’ lunch: "I remember I spoke with Ryan Coogler when this happened.
“I said, 'Ryan, how do you want to handle this? Because I really believe you are responsible for me being here.’”
"I said, 'If you want me to go, I'll go. If you don't, I won't.’
"He said, 'No, I want you to go.' That's the kind of guy he is. He wants us to go and represent the film."
Sylvester went on to speak positively when asked whether Hollywood’s lack of diversity will ever change, stating: "I do believe things will change and it's a matter of time and all talent will rise to the top but it's a matter of getting a new paradigm, a new way of thinking."
A number of stars have weighed in on the #OscarsSoWhite row, and Jada Pinkett-Smith and director Spike Lee are both planning to boycott the awards ceremony later this month.
Halle Berry, who is the only black actress to take home the Best Actress accolade, previously shared her views, stating that the lack of progress since her 2002 win is “heart-breaking”.
“To sit here almost 15 years later, and knowing that another woman of colour has not walked through that door, is heartbreaking,” she said. “It’s heartbreaking, because I thought that moment was bigger than me.
“It’s heartbreaking to start to think maybe it wasn’t bigger than me. Maybe it wasn’t. And I so desperately felt like it was.”