Cohl was inducted into the Canadian Music Hall of Fame, when he received a Walt Grealis Special Achievement Award at the 2002 Juno Awards. Cohl is also a recipient of the 2004 Billboard Legend of Live award, an honour previously bestowed on such artists as Elton John and The Allman Brothers Band. When "Spamalot" won the 2005 Drama Desk and Tony Award for Best Musical, Cohl was among the producers who received the awards. He was inducted in Canada's Walk of Fame in 2005