The award, named after Odisha's eminent poet Gangadhar Meher, was given on the occasion of 49th foundation day of the University.
The award is given to a poet of national repute and Odisha Higher Education Minister Pradeep Kumar Panigrahy, who was the chief guest at the function, conferred the award on Sarkar.
Sarkar, a recipient of the Banga Bhusan Samman from Government of West Bengal, besides a number of others as well as the Kendriya Sahitya Academy Award in 2013.
"I am delighted because the award has been instituted in the name of great poet Gangadhar Meher," Sarkar said in his speech and added that no other university in the country celebrate poetry in the name of a poet.
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Earlier eminent poets such as Alli Sardar Zafri, Kedar Nath Singh, Ayyapa Panikar, Shakti Chottopadhyaya, K Sachidanandan, Dillip Chitre, Jayanta Mohapatra, Gulzar, Nabakanta Barua, Prof A M K Shahryar, Nirupama Kaur, Binda Karandikar, Haraprasad Dash, Ramakant Rath, Surjit Patar, Rajendra Kishore Panda, Balraj Komal, Vasdev Mohi had been conferred the award.
Eminent playwright, director and actor Atal Bihari Panda was conferred 'Pratibha Samman' award at the function.
Addressing the gathering, Panigrahy said improving the standard of higher education was a major concern and the state government has taken steps for filling up vacant teaching posts of Sambalpur University.