Academic journal award is an important form of academic journal evaluation. Beginning in 1990s, the awards of university academic journals play a positive role in enhancing the level of academic journals. But there are still problems in quality standard of awards and the system design. Firstly, to highlight the characteristics of academic journals, the original "business standard" should be changed to "academic standard", and its evaluation indexes include citation rate, reprint rate, rate of papers be awarded and writing quality as well as respecting of intellectual property rights. Secondly, "editing standard" and "publishing standard" should be merged to "editing and publishing standard". Thirdly, it should add "journal Influence standard" by supplementing the original "social impact" indexes with journal awards, high impact papers rate, social credibility and readers' acceptance, etc. Fourthly, peer experts' qualitative evaluation indexes need to be added. Fifthly, it should adjust and re-design weight of evaluation indexes. The awards system also need to be improved by adhering to a quantitative and qualitative combined evaluation method, improving the classification evaluation system as well as the evaluation procedure and expert assessment, avoidance and supervision system. Perfection of quality standard and award system of university academic journals awards has reference value to various national academic journals awards.