On 11 October 2007 The White House announced Murphy would be presented the Medal of Honor, awarded posthumously, during a ceremony at the White House on 22 October 2007.
On 22 October 2007 the Medal of Honor presentation ceremony was held at the White House. President George W. Bush presented Murphy's Medal of Honor to his parents.
On 7 May 2007, the Lieutenant Michael P. Murphy United States Post Office was dedicated in Patchogue, New York. The request to rename the historic United States Postal Office located at 170 East Main Street in Patchogue, New York, was submitted as bill H.R. 4101 to the 109th Congress. On 3 January 2006, the 109th Congress approved the request and on 1 August 2006, it was signed by President George W. Bush and became Public Law No: 109–256.