Professor Carol Armour has received the following honors and awards:
- Fellow of the Pharmaceutical Society (2005)
- Australasian Pharmaceutical Science Association (APSA) medal for research (2007)
- Payne‑Scott Professor, University of Sydney (2018)
- Member of the Order of Australia for significant services to medical education (2019 Honours list)
- Eureka Prize for Outstanding Mentor of Young Researchers (2020)