PolyU organizes the Outstanding Students Award Scheme annually to award full-time final-year students who excel in both academic and non-academic pursuits during their studies. 

Each year, each academic department under the purview of a faculty will select an outstanding student to receive the “Outstanding Student Award of Department”. These outstanding students of departments under the purview of the same faculty will then compete with each other for the “Outstanding Student Award of Faculty”, whilst the outstanding students selected by the schools not under the purview of a faculty will receive the “Outstanding Student Award of School”. Among these eight outstanding Faculty/School students, one will be further selected to receive the honour of The Most Outstanding PolyU Student of the Year.