The IRPS gives an award occasionally when the Board feels someone in the Reliability Physics area merits such an honor. The first such award was given in 1970 to Dr. Werner Von Braun. Joseph Vaccaro, who initiated the Symposium, received one in 1973. No award was made until 1979 when Dr. Stewart Peck of Bell Laboratories received one for his pioneering work with the log-normal distribution for component life distribution, and the use of accelerated testing. The award was again granted in 1984 to David F. Barber for his pioneering work in Reliability Physics while at RADC. Alfred L. Tambourrino received the award in 1990 for his reliability work at RADC and long service to the Symposium. In 1992 a special award was made to James R. Black "For His Pioneering Research in Electromigration".

In 1996 "EXCEPTIONAL SERVICE AWARDS" were presented to SAR ASSOCIATES and SCIEN-TECH ASSOCIATES "In appreciation and recognition of the exceptional dedication, commitment, and distinguished service to the IRPS". It should also be noted that except for Dr. Von Braun and Dr. Black, each of the individual recipients has served the Symposium in many capacities, including that of General Chairman.

Starting in 1978 and continuing until the present, the Symposium has presented awards for "Best Paper" and "Outstanding Papers". These awards are presented at the banquet in the year following the year they were presented.