Formerly underwritten by the Sears-Roebuck Foundation, the Millikin Teaching Excellence and Leadership Award is now funded by the University and carries a small stipend for the awardee. The University has retained the Sears Foundation's guidelines which state, "A faculty member should be selected who has made a distinctive difference in such areas as classroom teaching, campus leadership, pioneering teaching methodology, creative course development, or instructional support."

The winner of the award becomes the keynote speaker for opening freshman convocation each year.

The award winner is chosen by a selection committee that includes represenatives from the faculty, administration, students and alumni. Recently, the selection committee's representation have included a)three faculty members from the Council on Faculty representing major curricular divisions, b) a senior student chosen by Student Senate from its own membership, c) a recent alumnus/a, chosen by the Alumni Board, and the committee is chaired by the Vice President for Academic Affairs.

Faculty who have held the Millikin Teaching Excellence and Leadership Award include:

2008 Anne Matthews
2007 Randy Brooks
2006 Ed Acheson
2005 Linda Slagell
2004 Darlene Hoffman
2003 Sharon Alpi
2002 Mary Ellen Poole
2001 Robert McIntire
2000 Barry Pearson
1999 Clarence Josefson
1998 Cheryl Chamblin
1997 James St. James
1996 Catherine Kaha
1995 David Golden
1994 Brian Mihm
1993 Homer Smith
1992 Dave Marshall
1991 Ron Shelton
1990 Bill Williams
1989 Richard Hoffland
1988 Marv Klaven