Donaldson was voted Best White House Correspondent in 1985 by readers of the Washington Journalism Review and Best Television Correspondent in 1986, 1987, 1988, and 1989 by readers of the same magazine. Among his other awards are four Emmys, three Peabodys, the Edward R. Murrow award 1997 (WSU), the Paul White award (RTNDA 1998), and he and his wife Jan were among those named as "Washingtonians of the Year" by Washingtonian Magazine in 2002.
