Academic prizes are awarded to students who have excelled academically in a unit of study, or over the course of a semester or year.
- The Student Centre notifies students who have been awarded prizes in February of the following academic year.
- The prize is recorded on the student's academic transcript.
- The entire prize list for the University is published in the Sydney Morning Herald in late January or early February of the following academic year.
- The student's achievement is recognised at a School Prizes ceremony later in the year.
- The awarding of prizes is often conditional, and these conditions must be met for a student to be eligible. An example of this is when a prize is awarded on the basis of enrolling in an additional year of Honours, or in a specific unit of study.