1988 Grey Cup Most Valuable Players
- Grey Cup Most Valuable Offensive Player — James Murphy (WPG)
- Grey Cup Most Valuable Defensive Player — Mike Gray (WPG)
- Grey Cup Most Valuable Canadian Player — Bob Cameron (WPG)
1988 Most Outstanding Players
- Player — David Williams (BC)
- Defensive Player — Grover Covington (HAM)
- Offensive Lineman — Roger Aldag (SSK)
- Canadian Player — Ray Elgaard (SSK)
- Rookie — Orville Lee (OTT)
Other 1988 Awards
- Tom Pate Memorial Award — Hector Pothier (EDM)