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Matheson received the World Fantasy Award for Life Achievement in 1984 and the Bram Stoker Award for Lifetime Achievement from the Horror Writers Association in 1991. The Science Fiction Hall of Fame inducted him in 2010.

At the annual World Fantasy Conventions he won two judged, annual literary awards for particular works: World Fantasy Awards for Bid Time Return as the best novel of 1975 and Richard Matheson: Collected Stories as the best collection of 1989.

Matheson died just days before he was due to receive the Visonary award at the 39th Saturn Award's ceremony. As a tribute the ceremony will be dedicated to him and the award will be presented posthumously. Academy President Robert Holguin said "Richard’s accomplishments will live on forever in the imaginations of everyone who read or saw his inspired and inimitable work."

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