In 1999, he was named the American Broadcasting company Wide World of Sports Athlete of the Year. In 2000 he won the Prince of Asturias Award in Sports. In 2002, Sports Illustrated magazine named him Sportsman of the Year. He was also named Associated Press Male Athlete of the Year for 2002, 2003, 2004, and 2005. He received ESPN's ESPY Award for Best Male Athlete in 2003, 2004, 2005, and 2006, and won the BBC Sports Personality of the Year Overseas Personality Award in 2003. Armstrong retired from racing on July 24, 2005, at the end of the 2005 Tour de France, but returned to road racing in January 2009 season.
Since retirement, Armstrong has focused on the Lance Armstrong Foundation, which supports people affected by cancer, and on other interests.
In 2007, Armstrong with other high profile athletes founded Athletes for Hope, a charity which helps professional athletes get involved in charitable causes and inspires non-athletes to volunteer and support the community.