Through its awards programs, the Biophysical Society honors its members, recognizes excellence in biophysics, and promotes greater interaction among biophysicists throughout the world. In addition to the annual Society Awards, the Biophysical Society provides Travel Awards to the Annual Meeting for students, senior scientists, and international meeting attendees. The Minority Affairs Committee oversees the annual Minority Biophysicist Travel Grant program. The Annual Student Travel Awards are organized by the Education Committee. The International Relations Committee oversees the International Travel Grant. This committee also offers the International Visiting Graduate Student Travel Grant and International Grants for Courses in Countries in Need throughout the year.

Subgroups hold the Student Research Achievement Award (SRAA) Poster Competition each year at the Annual Meeting.