He was inducted into the Hockey Hall of Fame in 1970. In 1998, he was ranked number 99 on The Hockey News' list of the 100 Greatest Hockey Players.
Despite a long (21 year) NHL hockey career, Gadsby never won the Stanley Cup. He came closest to winning the Cup in his final season, when Detroit Red Wings lost a 6-game final series to the Montreal Canadiens.
Gadsby is currently an "Honored Member" of the Detroit Red Wings Alumni Association and is active in its efforts to raise money for children's charities in Metro Detroit.