Alumni Friends established and supports an annual award, which is presented to The University of Queensland Graduate of the Year. This is an annual prize, first presented in 1999.

The prize is bestowed on the student who, in the opinion of the selection committee, is the most appropriate candidate to be recognised as The University Graduate of the Year—exemplifying the values of the University (as documented in The University of Queensland Strategic Plan) and demonstrating academic excellence. Each Faculty is invited to recommend one candidate as the Faculty nominee for consideration for the University award. Nominees must be the University Medallist with the highest GPA in the Faculty. In the event of a Faculty having two or more University Medallists with identical GPA scores, the Executive Dean of that Faculty—in consultation with the relevant Head of School(s) —is required to exercise their discretion as to the selection of the Faculty nominee.

The Graduate of the Year receives an engraved trophy/memento (which is presented to the recipient, by the Chancellor and the President of Alumni Friends, at the annual UQ Courting the Greats celebrations), and complimentary membership of Alumni Friends for one year.

Previous recipients of the Graduate of the Year Award are:

1999 Adrian Seet BEng (Electrical/Electronics) First Class Honours
2000 Karen Henricksen BInf.Tech (Software) First Class Honours
2001 Karen Dancer BSc (Pure Mathematics) First Class Honours
2002 Elizabeth Krenske BSc (Chemistry) First Class Honours
2003 Dylan Radcliffe BEng First Class Honours
2004 Mark Dowling BA/BSc First Class Honours
2005 Lindsay Hogan BAppSc First Class Honours
2006 Trent Carmichael BSc/BComm First Class Honours
2007 Kim Marie Hajek BSc First class Honours, BA First Class Honours
2008 Michael Oliver Statham BAppSc (Optom) First Class Honours, QUT MBBS First Class Honours
2009 Nicholas R. Beaton BSc (Mathematics) First Class Honours
2010 Karl J. P. Davy BSc (Chemistry) First Class Honours
2011 Amy Chan BSc (Mathematics) First Class Honours
2011 Christian Hoemann BE (Software Enginering) First Class Honours
2011 Nicola Stromsoe BSc (Gepgraphical Science) First Class Honours
2011 Ernest Tee B Biotechnology (Drug Design and Development) First Class Honours
2011 Jack Valmadre BE (Mechatronic Engineering) First Class Honours
2012 Hilary Martin BSc (Genetics) First Class Honours
2012 Mitchell Watt BSc (Mathematics) First Class Honours
2013 James Bennett BSc (Chemistry) First Class Honours
2013 Patrick Doolan BSc (Mathematics) First Class Honours
2013 Scott Fisher BE (Mechanical and Aerospace) First Class Honours
2013 Talia Pettigrew BSc (Chemistry) First Class Honours
2014 Aaron Brooker Bachelor of Engineering (Civil Engineering)
2014 Morgan Lewis Bachelor of Engineering (Mechanical and Aerospace Engineering)
2014 Tayla Tatzenko Bachelor of Biomedical Science
2015 Nicholas J. Doyle Bachelor of Engineering (Civil Engineering)
2015 Kianoosh Soltani Naveh Bachelor of Engineering (Mechatronic Engineering)
2015 Julian A. Tonino Bachelor of Engineering (Civil Engineering)
2016 Gabriel Perry, Bachelor of Arts (Hons) 2015, Bachelor of Laws (Hons) 2015.
2017 Kaela Armitage, Bachelor of Pharmacy (First Class Honours) 2016.

2018         Dr Bethany HoltBachelor of Arts (2012), Bachelor of Medicine and Bachelor of Surgery (2017). 

2019         Jason Lejcak, Bachelor of Economics (First Class Honours) 2018.