Lord Coe was thrilled with the recognition handed out to his successful London 2012 Olympic bid team in the New Year Honours List.
Bid chairman Coe was made a knight commander to add to his peerage, and he will now be known as Lord Coe KBE rather than Lord Sir Sebastian Coe.
"Every member of the London 2012 team played a crucial role in taking the bid across the line in July," said Coe.
"I am delighted that our efforts have been recognised in this way."
Chief executive Keith Mills and former British Olympic Association chairman Craig Reedie also receive knighthoods.
Mills said: "I am very honoured and I would like to think I will share this recognition with a fantastic team, because without a spectacular team none of this could have been achieved."
Reedie, who became a CBE in 1999 and remains a member of the IOC, believes his knighthood is in recognition for his work with the BOA as well as London's success.
"This is a wonderful end to a wonderful year," said Reedie.
"I have enjoyed 17 years with the BOA - 13 as chairman - and I'm sure that this honour has much to do with their dedicated and professional staff.
"Olympic sport has enjoyed great success in the last few years at both summer and winter Games and the work of the BOA and the London 2012 team resulted in winning the biggest prize of all - the 2012 Olympic Games.
"It has been a thrill to have been a part of those successes, which will benefit sport in our country for years to come."
Two CBEs, three OBEs and six MBEs are appointed to other members of the team.
BOA chief executive Simon Clegg and London 2012 technical director Dick Palmer become CBEs.
Mike Power, London 2012 chief operating officer, and communications director Mike Lee are appointed OBEs and marketing chief David Magliano becomes a MBE.
Clegg, who became an OBE in 2001, said: "It is an honour and I'm greatly flattered the contribution that I and many others in the BOA has been recognised in this way."
Lee added: "I'm delighted. It was a fantastic campaign to be involved in and we are all very proud of what we achieved. These awards reflect a fantastic team effort."