Margaret is honoured to have received the following awards:
| 2020 | AICCM Outstanding Conservation Volunteer, Australian Institute for the Conservation of Cultural Material |
| 2017 | Finalist for the Bathurst Macquarie Heritage Medal |
| 2017 | Member in the General Division of the Order of Australia (AM) ‘for significant service to cultural heritage, particularly to the museums sector, to education, and to historical preservation’. |
| 2002 | Lifetime Achievement Award from Museums Australia (Victoria) as part of the Museum Industry Recognition Awards |
| 2002 | Honorary Life membership, Friends of the Grainger Museum |
| 1989 | Museum Professional of the Year (Victoria College), "for an extraordinary contribution to the Museum Community" |
| 1977 | Turville-Petre Prize (Viking Society, London) |
| 1975 | Dwight’s Prize (University of Melbourne) |
| 1975 | Anna Lodewyckx Scholarship (for eight months’ travel in Iceland, 1976 and 1977) |
| 1973 | Edward Stevens Exhibition (University of Melbourne) |
| 1972 | Commonwealth University Scholarship |
| 1968 | Commonwealth Secondary Scholarship |