 In 2010, the University of Calcutta awarded him an honorary Doctor of Science degree.Banerjee is a Fellow of Indian Academy of Sciences, Bangalore, National Academy of Sciences, India, Allahabad, and the Indian National Academy of Engineering

Dr Srikumar Banerjee was DAE Homi Bhabha Chair Professor, Bhabha Atomic Research Centre.He was appointed as the Chairman, Board of Governors of IIT Kharagpur from 21 March 2014, for a period of three years.