In 2004, on the 250th anniversary of Columbia's founding, the school's newspaper, the Columbia Spectator, listed Commisso among Columbia's 250 greatest undergraduate alumni of all time. The school of Business also recognized him as a Select Distinguished Alumni. Commisso is the recipient of the Ernst & Young Entrepreneur of the Year Award for the Southwest Connecticut/New York Hudson Valley region, the Innovator Award for Business Strategy from Cablevision magazine, and the National Italian American Foundation Lifetime Achievement Award. In 2007, he was inducted into the Broadcasting & Cable Hall of Fame. In 2008, he served as Co-Chair of the Cable Show staged in New Orleans. In 2009, Commisso was presented with the Vanguard Award for Distinguished Leadership, the cable industry’s highest honor. In 2010, he was welcomed into the SUNY New Paltz School of Business Hall of Fame and named Business Person of the Year. In June 2011, Commisso was inducted into the Cable Center Hall of Fame. In 2015, he was awarded the Ellis Island Medal of Honour.