When the Scout program was divided into Scouts and Venturers, during the reign of Queen Elizabeth II, the highest award, the Queen's Scout Award, was renamed to reflect its application to the Venturer section.

The award is presented to venturers who have acquired competence and skills that will be of considerable use to themselves, their company, and their community.

These venturers will have also been recognized by the company, the advisor, and Scouts Canada as being worthy of receiving the award.

It consists of a cloth emblem and a parchment certificate, signed by the governor general of Canada, in the official capacity as chief scout of Canada.

A candidate for the King's Venturer Award must meet the following requirements: