Presently, the CFD Society of Canada administers two awards: a lifetime achievement award as well as a graduate scholarship award.

The Lifetime Achievement award was established in 2005 to recoginize individuals who have made outstanding, time-enduring contributions to computational fluid dynamics in Canada. This is not an annual award; recipients of the award are selected periodically as exceptional nominations are put forth.

The graduate scholarship award, also established in 2005, is intended to encourage graduate students to pursue a thesis-based degree involving the advancement or application of computational fluid dynamics. Budget permitting, two or more scholarships of $2,000 will be awarded annually. The applicant must be a full time student in a Masters or Ph.D. level graduate studies program at an accredited Canadian university.