The ICAO Award of Outstanding Merit, the highest honour that the Institute can bestow upon its members, recognizes conspicuous and sustained service to or on behalf of the CA profession, including service to the community. Seventy-five per cent majority votes of both a nominating committee, made up of the five most recent ICAO past-chairs, and of the governing Council are required for election to this prestigious Award. Since its inception in 1984, there have been 45 ICAO Award of Outstanding Merit recipients.
| 2009 | Sheila Fraser Jim Goodfellow Don Wray | ICAO AWARD OF OUTSTANDING MERIT RECIPIENTS | 1990 | Ray Harris Gert Mulcahy |
| 1989 | Gordon Cowperthwaite
|
| 2003 | Dr. W. Morley Lemon | 1988 | Don McKechnie George Ovens |
| 2002 | L. Denis Desautels Rt. Hon. Ellen L. Fairclough | 1996 | Bill Buchanan Jack Hanna | 1987 | Griff MacDonald Geoff Ward |
| 2001 | J. Spencer Lanthier
| 1995 | Bill Farlinger Ross Walker | 1986 | Bill Leonard Cam MacGillivray Alan Watson |
| 2000 | Erik Peters | 1994 | Keith Dalglish
| 1985 | Ken Lemon Tom Merrilees Irv Rosen Doug Thomas |
| 1999 | Efrim Boritz John Cleghorn Peter Godsoe | 1993 | Peter Held Lyman MacInnis |
| 1998 | Bob Brown Bill Saunderson | 1992 | Dave Bonham Ken Fincham | 1984 | Jack Adams Rudy Cohen Duncan Gordon Ross Skinner Lance Smith |
| 1997 | Cec Fleming Ron Gage | 1991 | Bill Broadhurst Wilf Wilkinson |