Captain Tom Moore is to be knighted, Downing Street has announced.
The Second World War veteran raised more than £32 million for the NHS, ahead of his 100th birthday last month.
Prime Minister Boris Johnson recommend Sir Tom be exceptionally honoured by the Queen, who has approved the honour, Number 10 said.
An investiture ceremony will take place at a later date.
Captain Tom captured the nation's hearts by setting off on 6 April to complete 100 laps of his garden to raise £1,000 for NHS Charities Together, which supports staff and volunteers caring for COVID-19 patients.
He initially pledged to raise £1,000 by his 100th birthday, but the donations soon turned into millions.
Captain Sir Tom Moore said he was "overawed" to hear that he will be knighted.
"I must say it’s rather different," he told BBC Breakfast.
"I mean, to get this honour is so outstanding that I really can’t say how different I feel, but I certainly feel I’ve been given a very outstanding honour by the Queen and the Prime Minister.
"I thank them all very much.
"I’m certainly delighted and I am overawed by the fact that this has happened to me."
Posting on his Twitter account, Captain Tom said: "This started as something small and I’ve been overwhelmed by the gratitude and love from the British public and beyond.
"We must take this opportunity to recognise our frontline heroes of the National Health Service who put their lives at risk every day to keep us safe."
In addition to his fundraising, the veteran even landed a number one single, a cover of 'You'll Never Walk Alone' with singer Michael Ball, which also featured the NHS Voices of Care Choir.
Mr Ball said he "couldn’t be more thrilled and proud" of his charity single colleague, adding the knighthood was a “fitting honour for a true British hero".
Captain Tom's knighthood comes just weeks after he was appointed the first Honorary Colonel of the Army Foundation College in Harrogate.
As he is an honorary colonel, under the Ministry of Defence protocol his official title after the investiture will be Captain Sir Thomas Moore.
Calls began for the British Army veteran to be knighted last month, including an online petition being launched.
Captain Tom enlisted into the Eighth Battalion of the Duke of Wellington’s Regiment (8 DWR), an infantry unit that was converted to operate Churchill tanks as part of the Royal Armoured Corps (RAC).
In 1940 he was selected for officer training and rose to the rank of captain, later being posted to 9 DWR in India.
He also served in Myanmar during the Second World War.
After the war, he returned to the UK and worked as an instructor at the Armoured Fighting Vehicle School in Bovington, Dorset.
He lived in Kent for many years before moving to Bedfordshire to be with his family in 2007.
Cover image: Captain Tom Moore pictured in April (Picture: PA).