text: For his contribution to the Indian cricket the Government of India decorated him with the Padma Shri honour in 1987.
  Wisden Cricketers of the Year in 1987
  Vengsarkar was awarded the C. K. Nayudu Lifetime Achievement award by the Board of Control for Cricket in India (BCCI).
  Administrator
  After retiring, Vengsarkar started the Elf-Vengsarkar Academy in 1995. He became the vice-president of the Mumbai Cricket Association in 2003. Although, he was the front runner for the post of the Chairman, Selection Committee, Dilip opted out because of his policy against zonal representation. He was appointed the Chairman of the Talent Resource Development Wing when it was created in 2002 to develop cricket talent within the country.
  Presently he is Chief Adviser of the Cricket Association of Telangana (CAT).
  In March 2006, the BCCI proposed Vengsarkar as a match referee, but the proposal did not move forward as Vengsarkar accepted the job as chairman of selectors of the BCCI later in the year.
  He runs three cricket academies, two in Mumbai and one in Pune. These academies give training free of charge to players selected on their skill level.
  In popular culture
  A Bollywood film 83 released in 2021 about the events around India's first World Cup win, at Lords in 1983, features Adinath Kothare as Vengsarkar.