Mo Farah, 33, completed a ‘double double’ in Rio as he won his fourth Olympic gold and became only the second man to retain the 5,000m and 10,000m titles.
His knighthood completes a remarkable journey for the runner who moved from Somalia to England aged eight.
“Looking back at the boy who arrived here from Somalia, not speaking a world of English, I could never have imagined where I would be today – it’s a dream come true,” he said.
Becoming a Sir caps a landmark 12 months for Wimbledon and Olympic champion Andy Murray, 29.
February 2016: Has first child as wife Kim gives birth to daughter Sophia
June 2016: Becomes Wimbledon champion for the second time
August 2016: Defends Olympic singles title in Rio
November 2016: Replaces Novak Djokovic as world number one
December 2016: Wins BBC Sports Personality of the Year for record third time; knighted in New Year Honours List
Scot Murray, previously honoured with an OBE in 2012, had said he was “too young” for a knighthood.