Lipski was educated at University High School, Melbourne, the Institute for Youth Leadership, Jerusalem, and the University of Melbourne, where he graduated with the degree of Bachelor of Arts.[2] In 1993 Lipski was honored with appointment as a Member of the Order of Australia (AM) for services to the media.[6] Lipski was awarded a Centenary medal and in 2008 was awarded an honorary Doctor of Laws from Monash University.[6]