Dame Sarah Storey, 35, is honoured for services to para-cycling after winning four gold medals at London 2012.
With a Paralympic gold medal total of 11, Storey, who is expecting her first child, equals Baroness Tanni Grey-Thompson and Dave Roberts as one of the country's most successful Paralympians.
She said: "Wow, I am speechless but incredibly honoured and extremely proud to be able to accept the DBE.
"I never expected any additional awards after my sporting success, I love competing for my country and that is a huge honour in itself.
"Now to be a dame is beyond anything I could have ever imagined and I cannot thank my family, friends, coaches and support staff over all the years enough for their devotion in helping me to follow the path of becoming the best athlete I can possibly be."
More top news
Emily Middlemas has been kicked out in the X Factor semi-finals - leaving 5 After Midnight, Saara Aalto and Matt Terry through to the finals
Prince Harry has visited a children's home founded by the controversial religious sect known as the Moonies during his tour of the Caribbean
Cloud continues rolling in from the west overnight which, combined with fresher winds will keep temperatures above freezing here.