Frankel received thoroughbred horse racing's Eclipse Award (for "Outstanding Trainer") five times, including four years in a row: 2001-2003. His horses won six Breeders Cups, and he trained the winners of 28 races worth $1 million or more. He was elected to the Museum of Racing Hall of Fame in 1995.

Frankel saddled his first winner in 1966, and established himself as "King of the Claimers" for his ability to select promising horses to purchase before a race.

At the time of his death (November 2009), Frankel had amassed 3,654 1st place victories. Combined with $227,947,775 in career earnings, Frankel was the second-winningest trainer in racing history.

The Brooklyn-born horseman trained 10 champions: Squirtle Squirt, Aldebaran, Possibly Perfect, Wandesta, Ryafan, Intercontinental, Leriodesanimaux, Ghostzapper, Bertrando, Ginger Punch, and Stardom Bound.