Li has received top awards at various competitions. He won the Children's Piano Competition in Beijing in 1994. In 1995, he was awarded first place at the Stravinsky International Youth Competition. In 1996, he won the Third Class Award in the tenth Hong Kong - Asia Piano Open Competition, the most competitive competition in Asia for international pianists. In 1998, he won the 1998 Missouri Southern International Piano Competition (Junior Division). The next year, he took Third Prize at the International Franz Liszt Piano Competition of Utrecht, as well as being a major winner in the China International Piano Competition. He also won first place at the Gina Bachauer Young Artists International Piano Competition. In October 2000, selected by the Ministry of Culture of the People's Republic of China to represent the country, Li participated in the XIV International Chopin Piano Competition in Warsaw. Li was the first competitor to be awarded the First Prize (the gold medal) in 15 years since Stanislav Bunin won it in 1985. The First Prize is only granted to the top competitor whose performance has met the jury’s expectations. At 18 years of age, Li was the youngest and the first Chinese winner in the competition's history. Li was also given the "Polonaise award" by the Chopin Society for his performance of a polonaise.
