In 2016, Allan Myers was awarded the Companions of the Order of Australia (AC), one of the highest individual honours available.He received the award for service to the community through philanthropic leadership in support of major visual arts, higher education, medical research and not-for-profit organisations, law and to professional learning programs.

In 2016, he was involved with the fundraising campaign for the University of Melbourne and chaired the Museums and Art Gallery board of the Northern Territory among others.