Schaeffer received numerous honorary degrees. In 1954, he was awarded an honorary Doctor of Divinity degree from Highland College in Long Beach, California. In 1971, he received an honorary Doctor of Letters degree from Gordon College in Wenham, Massachusetts. In 1982, John Warwick Montgomery nominated Schaeffer for an honorary Doctor of Laws degree, which was conferred in 1983 by the Simon Greenleaf School of Law, Anaheim, California in recognition of his apologetic writings and ministry.
Schaeffer died of lymphoma on May 15, 1984, in Rochester, Minnesota.