Trygve Lee was awarded a large number of Norwegian and foreign orders. Among these, the Norwegian highest civilian award Medal for Outstanding Civic Service (Medaljen for borgerdåd) (1966), the Grand Cross of the Order of Dannebrog (1954) and Grand Cross of the Order of St. Olav (1953), Czechoslovak OWL (1948). He was awarded numerous honorary doctorates by universities throughout the U.S. and Europe. Trygve Lee was the holder of a number of other orders, decorations and other honors.
Trygve Lee′s space is located in Furuset center in Oslo. In the square stands the bronze statue of Trygve Lee, created by the Norwegian artist Nicolaus Widerberg which was erected in 1994. Trygve Lie Gallery and Trygve Lee Plaza are both located in New York City.