Bustamante was commended in 1955 for his public services in Jamaica. He was awarded an honorary LLD degree from the Fairfield University in 1963. In 1964, he was made a member of the Privy Council of the United Kingdom (PC). In 1966, an honorary LLD degree was conferred on him by the University of the West Indies. In the same year, he was also awarded the Special Grand Cordon of the Order of Brilliant Star by the Republic of China. On 9 June 1967, Bustamante was appointed a Knight Grand Cross of the Order of the British Empire (GBE).