Participants in the USAMTS are eligible for various prizes. The prize levels are:

Score	Prize Level
96-100	Gold
75-95	Silver
60-74	Bronze
40-59	Honorable Mention

If fewer than 5% of the first round participants ultimately achieve a score of 96 or higher, the Gold prize level will include the full top 5% of students.

All students in the above ranges will receive a USAMTS T-shirt; some will also receive books, software, or subscriptions to mathematical journals. The top 30 male and top 30 female participants receive partial scholarships to Canada/USA Mathcamp.

With student and parent permission, USAMTS participant's names and addresses are also provided to colleges, universities, and employers for recruitment purposes.

The USAMTS is also one of the ways to enter the process of selecting the USA Mathematical Olympiad team, which participates in the International Mathematical Olympiad. Participants who score well after 3 rounds will be invited to participate in the American Invitational Mathematics Examination (AIME), the second step in the process of selecting the USA Mathematical Olympiad team.