The Penny Magee Memorial Lecture was established in her honour by the Australian Association for the Study of Religion.
[citation needed] Magee received degrees from the University of Melbourne, Adelaide and Lancaster.
[1] After her death, the Women's Caucus of the AASR established the Penny Magee Memorial Lecture in her honour.
The Women's Caucus is responsible for the selection of the speaker each year and the lecture is held at the AASR's annual conference.
[1] Anglican priest Sarah Macneil celebrated Magee's funeral service at Moruya and a public memorial was later held in Adelaide.