[1][2][3][4] Dr. Kasturchand Kasliwal has regarded him as among the 20 most distinguished of the Jain scholars of 20th century[5] His teaching career spanned 70 years, from 1931 to 2001.

He edited both volumes of the well known autobiography Meri Jivan Gatha by Kshullak Ganeshprasad Varni which were published in 1949 and 1960.

A simple, gentle and unassuming traditional scholar, he was awarded a PhD by Sagar University in 1973 for his work on Mahakavi Harichand.

Arhat-Vachan Journal commented on his death: "by his departure, a leading lighthouse of 20th century of the Jain scholarly tradition has fallen."

On 8 March 2001, at the Kundalpur Tirth, in the shadow of Lord Adinath Bade Baba, Pannalal Jain laid down his body, having entered his final meditation.

In Sagar, the street passing through the centrally located Namak Mandi has been named Sahityacharya Pandit Pannalal Jain Marg, which has a bust in the middle of the road.

Achala Jain, who wrote her dissertation on his contributions to Sanskrit literature, was awarded a PhD by the Indore University.