He was the recipient of the INSA Young Scientist Award in 1982, the Shanti Swarup Bhatnagar Prize for Science and Technology, the highest science award in India, in the physical sciences category in 1997, the J.C. Bose fellowship, the National Merit Certificate and Prize and the National Science Talent Search Scholarship in 1967. He is a Fellow of the Indian National Science Academy, National Academy of Sciences, Allahabad and the Indian Academy of Sciences, Bangalore. He was also a two-term senior associate of the Abdus Salam International Centre for Theoretical Physics (ICTP), Trieste, Italy. In 2005, Raychaudhuri was conferred the honour of International Alumnus of the Year by the University of Maryland Alumni Association. He is a recipient of D.Sc. (honoris causa) from the University of Gour Banga and the University of North Bengal.