The International Phycological Society awards several grants and prizes. These include:

The George F. Papenfuss Award for the best poster at the IPC.

The Tyge Christensen Prize for the best paper in Phycologia during each calendar year.

The Feldmann Fund to pay subscriptions for members facing economic challenges.

The Paul C. Silva Student Grant for student travel, training and research.

The Phycological Community Grant.