The 62-year-old actor, who was here to attend a programme organised by Thane police, also came down heavily on people receiving these kind of honours.
"Anybody and everybody gets up and forms any organisation and institutes a Lifetime Achievement Award and they also accept it," he said without naming anyone.
"It is not a crime...but I won't accept it...How can you evaluate my life's cost as Rs 1 lakh...Rs 5 lakh... Rs 10 lakh," he wondered.
Lifetime Achievement awards are given by various organisations to recognise contributions of persons over the whole of a career, in any particular field.
Earlier, participating in a seminar on ways to overcome crime in the society organised by Thane police on the occasion of Maharashtra Police Raising Day today, Patekar said that we have become a society devoid of cordiality and unity.
"It needs do some soul searching... to realise what they were doing was wrong," he said.
On the recent Delhi gang rape case, Patekar said the society should be "ashamed" of such ghastly incidents.
"Just by lighting candles, the problem will not be solved. The candles should turn into weapons for self defence."
Other speakers included Loksatta Editor Girish Kuber and cyber law expert Prashant Mali.