The H. G. Smith Memorial Award is the premier award of the RACI. It is awarded annually to a member who has contributed most to the development of some branch of chemical science, judged by research work published or accepted for publication during the ten years (or equivalent relative to opportunity) preceding the award. The recipient is required to be a current member for a minimum of 3 years. If in the opinion of the RACI Board there is no candidate who has sufficient merit, the Board may refrain from making an award. Notable recipients of the award include:
* David Rivett (inaugural recipient in 1929) 
* James Arthur Prescott (1931)
* Edward Sydney Simpson (1932)
* Ian William Wark (1933)
* Francis Patrick Dwyer (1943)
* John Stuart Anderson (1944)
* Martina Stenzel (2017)