Admission to the Honor Society of Phi Kappa Phi is by invitation only and requires nomination and approval by a chapter in accordance with the bylaws of both the chapter and the national Society. Both require superior scholarship and good character as criteria for membership.

Phi Kappa Phi is an honor society, not an honorary society or fraternity. Membership is earned; it is a true honor. Meeting Phi Kappa Phi's criteria signifies excellence which, in turn, signifies distinction.

Because of their outstanding records, members of Phi Kappa Phi often are preferred candidates for grants, scholarships, and fellowships from institutions where they may continue their education or do research. When they seek jobs, they find their Phi Kappa Phi membership is widely accepted as an indicator of academic ability and motivation.