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Yes, West Side Story (1961) won the Academy Award for Best Picture at the 34th Academy Awards. It won a total of 10 competitive Oscars (the most ever for a musical) out of 11 nominations. The Best Picture award was accepted by producer Robert Wise. Other major wins included Best Director (historically shared by Robert Wise and Jerome Robbins), Best Supporting Actor (George Chakiris), and Best Supporting Actress (Rita Moreno).
Yes, West Side Story (1961) won the Academy Award for Best Picture.
It was honored at the 34th Academy Awards ceremony, which recognized films released in 1961.
Specific Details:
The summary correctly notes the 10 wins but omits that this remains the record for the most Academy Awards won by a musical film.
In addition to the 10 competitive awards, Jerome Robbins received a Special Academy Award for his choreographic achievements.