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Among the many ways that the Phi Beta Kappa Society fosters and promotes excellence in the liberal arts and sciences are the Society's esteemed fellowships, service awards and literary awards.

Phi Beta Kappa also recognizes those who work to preserve and promote the liberal arts and sciences through three separate awards. Established in 1991 in memory of the distinguished American philosopher Sidney Hook, the Sidney Hook Award recognizes national distinction by a single scholar in each of three endeavors — scholarship, undergraduate teaching and leadership in the cause of liberal arts education.

In addition, the Award for Distinguished Service to the Humanities is given to recognized individuals who have made significant contributions in the field of the humanities.

The Romanell-ΦBK Professorship is awarded annually, on a nonrenewable basis, to scholars in the field of philosophy, without restriction to any one school of philosophical thought. This professorship is intended to recognize not only distinguished achievement but also the recipient’s contribution or potential contribution to the public understanding of philosophy.

The Fellows Award is bestowed yearly on a prominent Phi Beta Kappa of the fellows' choosing. The awardee is chosen based on his or her career, lifetime accomplishments, and role in furthering the goals of Phi Beta Kappa. 

Phi Beta Kappa also recognizes excellence in literary works. The Phi Beta Kappa Book Awards, which are sponsored by the Phi Beta Kappa Society, are given annually in December to outstanding scholarly books that have been published in the United States in the fields of the humanities, the social sciences, the natural sciences and mathematics.

Love of learning is the guide of life.