Montgomery's suspension saw the USA stripped of their medal
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South Africa's 4x100m relay team have belatedly been awarded the 2001 World Championships gold medal after original winners USA were disqualified.
Morne Nagel, Corne du Plessis, Lee-Roy Newton and Mathew Quinn were surprise silver medallists in Edmonton, Canada, behind the favoured Americans.
However, the USA team were stripped of their medal following Tim Montgomery's doping infringement last year.
The South Africans were honoured at a function in Johannesburg on Tuesday.
Montgomery was stripped of his medal by the International Association of Athletics Federations (IAAF) after being handed a two-year ban.
That came after the Court of Arbitration for Sport accepted evidence that he had taken the designer steroid THG.
The former world record holder never failed a doping test while competing and denies taking performance-enhancing drugs.