- School of Education Distinguished Alumni Award (1980)
- National Academies (1961)
- American Association for the Advancement of Science
Philip Peak was a long-time IU School of Education professor, associate dean and acting dean. Dean Peak spent 37 years at Indiana University after joining the faculty in 1942 and is credited with developing the mathematics education program. A list of his accomplishments in the education field includes being awarded the Outstanding Service Award for an Indiana teacher, serving as Indiana's representative to the National Council of Teachers in Mathematics, and serving as the president of the National Council of Teachers of Mathematics. In 1980, his accomplishments were recognized with the prestigious Distinguished Alumni Award from the IU School of Education. The endowed scholarship named after him provides scholarship support to undergraduates in the school.