Masterton was also the editor of Scare Care, a horror anthology published for the benefit of abused children in Europe and the United States.

Further works garnered critical acclaim, including a Special Edgar Award by the Mystery Writers of America for Charnel House and a silver medal by the West Coast Review of Books for Tengu.

In 2002, while living with his wife in Cork, Ireland, Masterton added crime fiction to his repertoire with A Terrible Beauty featuring Irish Detective Superintendent Katie Maguire.

The Prix Graham Masterton is organized annually in Belgium by the publisher Marc Bailly for the best French horror novel and short story of the year.

In 2021, he was honoured by the city of Wrocław in Poland by having a bronze dwarf representing himself with a copy of his horror novel The Manitou placed on the pavement outside the Art Hotel on Kielbasnicza Street—one of nearly 600 dwarves which are a major tourist attraction.

He is also writing short horror stories based on Slavic mythology with a Polish psychologist Karolina Mogielska and the first of these "Mr Nobody" was published in "Phantasmagoria magazine 22."