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The Institute annually awards the following medals and scholarships in recognition of the performance of students who have excelled in their studies.
Two Gold Medals are awarded to the students who score the highest marks in the Master of Arts in Buddhist Studies Examination in Sinhala and English medium.
The Silver Medal is awarded to the student who scores the highest marks in the Postgraduate Diploma in Buddhist Studies Examination.
This scholarship is awarded to the two students who perform best in the Course Unit ― MABS 06 – Origins of Mahayana and the Earliest Mahayana Sutras of the Master of Arts in Buddhist Studies Programme in Sinhala and English medium. Each awardee receives a cash prize of Rs. 25,000.
This scholarship is awarded to the local student who has performed best in the Postgraduate Diploma in Buddhist Studies Programme. This scholarship is maintained by E.W. Gunathilaka Fund and the awardee will be exempted from the course fee of the Master of Arts Degree in Buddhist Studies Programme.
The Glorious Sun Holdings Ltd., Hong Kong awarded 20 scholarships: 15 Scholarships for MA and 06 Scholarships for MPhil/PhD students of the Postgraduate Institute of Pali and Buddhist Studies.