Whoever memorizes Qur’an and acts upon it; Allah will reward him and honor him greatly for that, so that he will rise in status in Paradise to a level ommensurate with what hememorized of the Book of Allah. Ibn 'Amr reported that the Prophet (S.A.W) said: "It will be said to the companion of the Qur’an after he has entered Paradise, 'Recite, and rise!' For every verse he recites he will rise one level (in Paradise), until he recites the last verse with him (i.e., in his memory)." (Abu Dawood)
The Parents of the Memorizer of the Qur'an will receive the highest Honor of wearing a crown on the Day of Judgment. It was narrated that Buraydah said: “The Prophet (s.a.w) said: ‘Whoever reads the Qur’an, learns it and acts in accordance with it, on the Day of Resurrection his parents will be given a crown to wear whose light will be like the light of the sun, and his parents will be given garments which far surpass everything to be found in this world. They will say, “Why have we been given this to wear?” It will be said, “Because your child learned the Qur’an.”3
For every letter the Memorizer of the Qur'an recites is rewarded ten times or more. The Prophet (s.a.w) said: “Whoever recites one Word from the Book of Allah will be rewarded for a good deed and ten more like it; and I don’t say that Alif Lam Mim is a letter but Alif is a letter and Lam is a letter and Mim is a letter” (Tirmidhi & Al-Darami)
The Qur'an will intercede for the Memorizer of the Qur'an: It was narrated that Abu Umaamah al-Baahili said: “I heard the Prophet (s.a.w) say: ‘Recite the Qur’an, for it will come on the Day of Resurrection to intercede for its companions. Recite the two bright ones, al-Baqarah and Surat Aal ‘Imraan, for they will come on the Day of Resurrection like two clouds or two shades or two flocks of birds in ranks, pleading for those who recite them. Recite Surat al-Baqarah for to take recourse to it is a blessing and to give it up is a cause of grief, and the magicians cannot confront it.” (Muslim and Al-Bukhaari).
The memorizer of the Qur’an will be granted Jannah so long as he followed the lawful and kept away from the prohibited. Hadrat Ali (RA) reports that the Prophet (s.a.w) said: “Anyone who knows the Quran by heart and follows the lawful and the prohibited according to it, he will be sent to Heaven by Allah .” (Tirmidhi).
There is double reward for those who try hard to memorise the Qur'an Aisha that the Prophet (s.a.w) said: The likeness of the one who reads Quran and memorizes it is that he is with the righteous honorable scribes. The likeness of the one who reads it and tries hard to memorize it even though it is difficult for him, he will have (at least) a double reward. (Al-Bukhaari)
It is among the methods of preserving the message of the Quran hence enabling its perpetuation to the next generation.
Memorization of the Quran is an act of ibadah, hence one is rewarded by Allah(s.w)
Those who memorize the Quran are held in high esteem in the Ummah.
It helps in remembering and understanding the content of the Quran.
To maintain accuracy of the message of the Quran.
Those who have memorized the Quran are highly sought after and valued by the Islamic learning institutions and universities and the world of scholarship.