- He was the first American to win the Academy Award for Best Actor.
- Got the part of the Cisco Kid in the movie In Old Arizona (1928) due in part to veteran director Raoul Walsh's automobile accident in which he lost an eye. Walsh was set to play the Kid.
- His mother Jane Barrett Baxter died on March 29, 1962 at the age of 92, having outlived him by almost eleven years.
- First actor to portray the character of Jay Gatsby on-screen in The Great Gatsby (1926).
- Was said to have had a fear of horses.
- Was godfather to Ronald Colman's only child, Juliet.
- Baxter became a member of The Lambs, a professional theatrical club in NYC, in 1918.
- Interred at Forest Lawn (Glendale), Glendale, California, USA.
- An article in the California Eagle (dated March 12, 1937) by Madeline Hunt praised Baxter for his courtesy toward the Black actors he worked with on the sets of both White Hunter (1936) and Slave Ship (1937): "Entirely unaffected, he is kind and considerate to all, but seems an especial interest in the colored players with whom he works.".
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