Mihailo Živanović won numerous awards in the field of art. Let us mention some of them:
- The first award of the Critics’ jury and the second award of the Jury for light melody „Clock’s story” at the Festival of Light Melodies in Opatija in 1959.
- The second award for light orchestral music of Yugoslav Radio Television for his work “Rhapsody for Clarinet and Orchestra” in 1961.
- The second award of the jury at the Belgrade Spring Festival 1961 for “Rhapsody for Clarinet and Symphony Orchestra” (the first prize was not awarded).
- The first award for the “Rhapsody for Clarinet” at the JRT competition for light orchestral music in 1974.
- The first award in Radenci (Slovenia) for the “Sketch for clarinet”.
- Numerous awards of jury and audience at various festivals: the Belgrade Spring 1968, 1972, 1973, and the award for the best arrangement of romance in 1974.
- Numerous awards at the JNA festivals in 1970, 1971, 1972 and 1982 (the first award for a song inspired by military life at the Army festival. The song “Old oak” was sung by Krunoslav-Kićo Slabinac, and the first award for the song “Fly, fly, blue bird” on 21 December 1984).
- Award of Radio Belgrade and JRT for children’s music.
- Award in Japan for child’s song “Raindrops”.
- He was awarded Order of Labour with silver wreath.
- The second award (the first was not awarded) at the Yugoslav Young Artists Competition, Skopje in 1954.
- For his activity in the music field he was awarded Order of Labour with silver wreath.
- Award of Serbian Composers Association.
- The first award in Vienna as soloist on clarinet for performing Artie Shaw “Concerto for Clarinet and Orchestra”. He was accompanied by the jazz orchestra of KUD “Branko Krsmanovic”.
- The first award of Serbian Composers Association for ”Fantasia” composed for revue orchestra (composer’s favorite award).
- Radio Belgrade “News” was tuned with the new music that had been selected at the internal competition. Mihailo Živanović was the author of the music. Its rhythmic movement basically imitated operation of a teleprinter.
- Recipient of the Memorial plaque “Belgrade 1944-1984” to mark the 40th Anniversary of the liberation of Belgrade. Belgrade City Council awarded him this recognition on 25 December 1984. as an eminent individual – artist important for the development of Belgrade.
- Gold Medal of the Union of Yugoslav Composers in recognition of merit and work on promoting and affirming Yugoslav composers.