• Legends Pro Wrestling
  • Inducted into the LPW Hall of Fame (4/24/10)
• Jim Crockett Promotions

• NWA National Heavyweight Championship (1 time)1
• NWA United States Heavyweight Championship (1 time)
• NWA World Six-Man Tag Team Championship (1 time) – with Ivan Koloff and Krusher Khruschev, then with Koloff and Baron von Raschke after Kruschev was injured
• NWA World Tag Team Championship (Mid-Atlantic version) (2 times) – with Ivan Koloff
• NWA World Television Championship (1 time)
• UWF World Television Championship (1 time)2
• Jim Crockett, Sr. Memorial Cup Tag Team Tournament (1987) with Dusty Rhodes

• National Wrestling Alliance
  • NWA Hall of Fame (Class of 2008)
• Pro Wrestling Illustrated

• PWI Feud of the Year (1987) with Dusty Rhodes and The Road Warriors vs. The Four Horsemen
• PWI Most Inspirational Wrestler of the Year (1987)[6]
• PWI ranked him #17 of the top 500 singles wrestlers of the PWI 500 in 1992[7]
• PWI ranked him #64 of the 100 best tag teams of the PWI Years with Ivan Koloff in 2003.
• PWI ranked him #113 of the top 500 singles wrestlers of the "PWI Years" in 2003[8]

• Wrestling Observer Newsletter awards
  • 5 Star Match (1992) with Dustin Rhodes, Sting, Ricky Steamboat, and Barry Windham vs. Rick Rude, Steve Austin, Arn Anderson, Bobby Eaton, and Larry Zbyszko (May 17, WarGames match, WrestleWar)

1Koloff defeated Wahoo McDaniel to unify the title with the NWA United States Heavyweight Championship. The title was also won after Georgia Championship Wrestling was purchased by Jim Crockett Promotions.
2Koloff defeated Terry Taylor to unify the title with the NWA World Television Championship. The title was also won after Bill Watts' Universal Wrestling Federation promotion was purchased by Jim Crockett Promotions.