Magic Johnson says he won't sit quietly while the Oscars run a snow job on black people -- claiming there were a BUNCH of black actors who deserved nominations ... including Will Smith.
The NBA legend went to Twitter and wrote ... "[Cookie] and I are avid movie goers and we are disappointed by the lack of diversity with the Oscar nominations."
"Saw Leo/TheRevenant and Matt/TheMartian both spectacular & deserve noms, but you can’t ignore Will/Concussion and Idris/BONN."
"And we can’t forget about Michael B Jordan & Ryan Coogler w/ Creed, Sam Jackson in The Hateful 8, all deserved to be nominated.