Pierce, who has played 007 four times, was presented with an honorary OBE, which stands for Order of the British Empire.
The award is given out by Her Majesty to people who were not born in Britain, but who have played an important part in British life.
Pierce, who comes from Ireland, said he was "flattered and humbled".
"I hope I can carry on doing good things with it," he added.
Pierce was rewarded for his work for good causes as well as his acting skills.
His guests at the ceremony included his mum and dad.
Foreign Secretary Jack Straw was among the people to congratulate Pierce on the honour.
"In his portrayal of 007, he has added style and glamour to the image of Britain overseas," he said.