Three medals have been established for members of the Victorian Division of the Geological Society of Australia. They are the Selwyn Medal, the DE Thomas Medal and the Frank Canavan Award.

The Selwyn Medal is named in honour of Sir Alfred Selwyn, the eminent Victorian pioneering geologist and founder of the Geological Survey of Victoria. It is awarded, usually yearly, to recognise significant ongoing or former contributions of high calibre to any field of Victorian geology. For more information on the Selwyn Medal and the annual Selwyn Symposium follow this link

The Frank Canavan Award was set up in 1996 by Mrs Canavan in honour of her late husband Frank, a well known Victorian geologist who was very active in promoting geological education and was a member of the Education Subcommittee of the Division. The Award is a cash sum for the purchase of geological textbooks, and is awarded to the most promising student who has finished second year geology at a Victorian university, as judged by the student's academic performance.

This medal commemorates David Evan Thomas, the well known former head of the Victorian Geological Survey who was famous for his detailed and precise mapping. The silver Thomas Medal is offered each year for the best geological map produced by a Victorian Honours level student in Victoria. Submissions are sought by the selection committee from Geology or Earth Science Departments of Victorian universities.