Hurwicz was voted to be a fellow of the Econometric Society in 1947 and in 1969 was the Econometric Societys president. Hurwicz was made part of the American Academy of Arts and Sciences in 1965. In 1974 he was made a part of the National Academy of Sciences and in 1977 was made a Distinguished Fellow of the American Economic Association. Hurwicz was given a National Medal of Science in 1990 by President of the United States George H. W. Bush, for studying Behaviorial and Social Science, given to him for his new work on the theories of how to share wealth in modern decentralization.