The 46-year-old actor received the honour from Khalid Mahmood, Labour MP from Birmingham Perry Barr in the House of Commons.
Khan, who played the role of a Police Inspector in critically acclaimed Slumdog Millionaire, expressed his happiness over the film's huge success.
"I am happy that the feel good film has won as many as seven awards at BAFTA here, including the Best Film, Best Director prize for Danny Boyle and Best Music award for AR Rahman," The News quoted him as saying.
"I am hopeful that it will win four to five Oscars later this month where it has received ten nominations. I think it is going to win the Best Film, the Best Director and Best screenplay awards."
"I will be delighted if it wins Oscar for Music and sound," Khan added.
The film of an 18-year-old slum boy from rags to riches has already won seven British Academy Film Awards (BAFTA) and has been nominated in 10 categories at the Oscars.&13;