Since 2003, the Faculty of Psychology has awarded the annual Faculty Prize sponsored by the Karger Publishing Foundation. The award ceremony takes place at the Dies academicus of the University of Basel at the end of November.

In addition to the Steven Karger Prize, the Amerbach Prize, the Emilie Louise Frey Prize and the Schwizerhüsli Prize are awarded on a rotational basis by the faculties and presented at the Dies academicus at the end of November.

In addition, each faculty can nominate one candidate for the Alumni Prize each year.