In a move that broke with tradition, Hoy’s knighthood came while he was still competing and he took part in London 2012 as Sir Chris.
The Scot told the PA news agency: “To become a knight from riding your bike, it’s mad.
“But it is, genuinely, just an amazing honour, it’s also great for the sport.”
Hoy was one of 10 Olympic cyclists to be honoured, while a number of Olympic coaches and officials were also recognised.
He went on to win two golds in London to take his tally to six before announcing his retirement in 2013.