Lifson's honors included the Weizmann Prize (1958), the Israel Prize (1969), and election to the Israel Academy of Sciences and Humanities (1999). He was appointed an Honorary Fellow of the Open University of Israel (1991), received an honorary Ph.D. from the Hebrew University of Jerusalem (2000) and was named Yakir Rehovot – “Distinguished Resident of Rehovot” (2000). He served on the board of trustees of Tel Aviv’s Cameri Theater and on the board of governors of Israeli Educational Television.