Presently, the CFD Society of Canada administers two awards: a lifetime achievement award as well as a graduate scholarship award. Travel grants are also available for graduate students attending the CFDSC conference.

The Lifetime Achievement award was established in 2005 to recognize 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 $4,000 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.