Walter has been recognized for his achievements with several prestigious awards and citations.
- 21 Grammy Award Nominations; National Academy of Recording Arts and Sciences.
- Grammy Award, Best Polka Album, “35th Anniversary”, 1992.
- Grammy Award, Best Polka Album, “Accordionally Yours”, 1993.
- Grammy Award, Best Polka Album, “Music and Friends”, 1994.
- Order of Canada Award April 26, 2000.
- Star on Canada’s Walk Way of Fame, Toronto, Ontario Canada June 1, 2001.
- Only Canadian to be inducted into the National Cleveland-Style Polka Hall of Fame in Cleveland Ohio, November 26, 1988.
- Only Canadian to be inducted into the International Polka Association, (I.P.A), Polka Hall of Fame in Chicago, Illinois, 1983.
- Musician of the Year, Cleveland Style Polka Hall of Fame, Cleveland Ohio, 1990.
- Society of Composers, Authors and Music Publishers of Canada, (SOCAN), Lifetime Achievement Award, 2007.
- World Music Lifetime Achievement Award, Cleveland Ohio, 1999.
- Long Play LP’s “Polka Stadia” volumes I & 2 inducted into the National Cleveland-Style Polka Hall of Fame November 25, 1989.
- Album of the Year Cleveland-Style Polka Hall of Fame 1993, 1995, and 2004.
- Band of the Year, Cleveland-Style Polka Hall of Fame, 1993.
- Song of the Year, IPA Award, Chicago Illinois, 1990.
- Doctor of Law Award, Brock University, St.Cathairnes, Ontario, Canada.
- University of Hard Knocks Hall of Fame, 1991.
- Gold Record Award from ARC Recording Co., Toronto, Ontario.
- Silver medal for one-hour Christmas Special, in which over 200 other shows were entered.
- Best Oktoberfest band award, Kitchener-Waterloo: First prize 20 years, Second prize 2 years.
- Kitchener-Waterloo Oktoberfest President’s Award, 2005.
- Honoured with Keys to the Cities of: Collingwood and Wiarton Ontario, Youngstown and Euclid, Ohio, U.S.A.
- Dedicated “Walter Ostanek Pavilion”, Montebello Park, St.Catharines Ontario.
- Man of the Year, P.O.P.P Youngstown Ohio, 1984.
- Iron World Minnesota Hall of Fame, 2000.
