The prestigious Paul Karrer Gold Medal and lecture was established in his honour in 1959 by a group of leading companies such as CIBA AG, J.R. Geigy, F. Hoffmann-La Roche & Co. AG, Sandoz AG, Société des Produits Nestlé AG and Dr. A. Wander AG. It is awarded annually or biannually to an outstanding chemist who delivers a lecture at the University of Zurich.
The Paul Karrer Lecture Foundation is based at the Chemistry Institute of the University of Zurich at Rämistrasse 71, in Zürich.