Devon's Mary King and Somerset's Debbie Criddle will receive their MBEs at Buckingham Palace on Tuesday.
Mary, who is from Sidmouth, won a team silver at the London Olympic Games.
Debbie, who lives and trains in Taunton, won two individual silvers and a team gold at London 2012.
Taunton's Debbie Criddle won a silver medal in the individual Grade 3 dressage event. Her performance played a big part in helping Great Britain achieve a team gold overall.