Petrakis' commitment to baseball did not go unrecognized. In 1956 he was featured in the Saturday Evening Post because of his success as the general manager of Dubuque's minor league team. The commissioner of major league baseball named him the Minor League's "Ambassador for Organized Baseball." The same year, he was named Executive of the Year for minor leagues by the Sporting News. In 1958 Petrakis was presented with the Outstanding Citizen Award from the Dubuque Realty Board. In 1961 the 4th Street baseball park was renamed in his honor, and he received the Service to Humanity Award from the Dubuque JAYCEES and the Boys' Club "Man Behind the Boy Award." Petrakis was elected to the DUBUQUE SOFTBALL HALL OF FAME in 1985. On May 4, 1986, the new baseball field, part of the Gerald “Red” MCALEECE Recreation Complex, was named the "Johnny Petrakis Baseball Park."
Some of Petrakis' honors were not related to baseball. He was named to Ripley's Believe It or Not in 1934 for his basketball free-throw records of 112 consecutive shots, 972 out of 1,000 and 4,665 out of 5,000. In 1935 he was named to "Iowa Oddities" for making 148 consecutive free throws.DUBUQUE BOYS' CLUB Boosters.
175 Years, Volume 3, "Mr. Baseball's Hard Work Gained Attention," Telegraph Herald, September 15, 2008