Karren Brady, the Vice-Chair of West Ham football club and Apprentice TV show star, will take a seat on the Conservative benches in the House of Lords.
She is one of 12 new Conservative peers along with Sir Stuart Rose, former Marks and Spencer boss.
There are 12 new Tory peers, three new Labour ones, six Liberal Democrats and one DUP member of the Lords.
Former Deputy Mayor of London, Jenny Jones, will be welcomed to the House of Lords in a special ceremony this afternoon.
The former chair of the Green Party was announced as a life peer in August.
Liberal Democrat and former Deputy Assistant Police Commissioner of the Metropolitan Police is introduced to the House of Lords today.
He'll take the title Baron Paddick of Brixton for the Borough of Lambeth.
Lord Paddick was a police officer for 30 years until he left the force in May 2007.
He later stood as the Liberal Democrat candidate for the Mayor or London in 2008 and 2012.
The mother of murdered teenager Stephen Lawrence is to be introduced to the House of Lords.
Doreen Lawrence - who will be known as Baroness Lawrence of Clarendon - accepted a Labour peerage earlier this year for her ongoing campaign work.
She has said she wants to use her new role to help change more lives.
Race equality campaigner Doreen Lawrence said she wants to use her House of Lords peerage to "give a voice to ordinary people".
The mother of murdered teenager Stephen Lawrence also admitted she was "nervous" about her new role as a Labour peer.
Doreen Lawrence has changed attitudes and policing in the UK, Labour leader Ed Milband said today after it was announced that she would be made a Labour peer.
Mr Miliband said: "Over the past 20 years, Doreen Lawrence has had a profound impact on Britain and I am delighted that she will become a Labour member of the House of Lords.
"Since the horrific racist murder of her son, Doreen has shown incredible strength and courage as she sought, and continues to seek, justice for Stephen.
"She has changed attitudes to policing and racism in this country and I have no doubt that her strength and determination will be a huge asset to the House of Lords in the coming years."
Labour has hailed the mother of murdered teenager Stephen Lawrence as an "extraordinary voice" after she was named a Labour peer, Downing Street revealed today.
JCB boss Sir Anthony Bamford has been made a Tory peer, Doreen Lawrence a Labour peer, and Ministry of Sound mogul James Palumbo a Liberal Democrat peer in a list published by Downing Street today.
The ranks of the House of Lords are due to be swollen with the publication of a new list of working peers, including Doreen Lawrence, the mother of murdered London teenager Stephen.
Mrs Lawrence's seat in the Upper House as a Labour baroness comes after a 20 year fight for justice for her son, who was stabbed to death at the age of 18 in a racist attack in south London.
Shami Chakrabarti, director of Liberty, said:
"Doreen Lawrence is a role model and a friend - heartfelt congratulations to her on her richly-deserved appointment to the House of Lords.
"Who can imagine transforming the grief of losing a child into a campaign to reform policing and the wider values of an entire nation? Her calm courage should be an inspiration to everyone."