58-year-old Ramakrishnan, known to most as Venky, is based at the MRC Laboratory of Molecular Biology in Cambridge.
He has been conferred knighthood "for services to molecular biology" in the New Year Honours List 2012, according to an official announcement here.
After the list was released early today, Ramakrishnan said that honouring him with a knighthood reflects the contribution made by immigrants to British society.
In a statement to PTI, he said: "In the current debate about immigration, it is worth noting that this award is yet another example of the numerous contributions that immigrants make to British society."
"Indeed, many of the founding members of the Laboratory of Molecular Biology were immigrants themselves, and they helped to revolutionise modern biology."
Ramakrishnan said: "This is an honour that reflects the quality of science supported by the Medical Research Council, in particular at the Laboratory of Molecular Biology in Cambridge. In my case, credit should go to the numerous dedicated postdocs, students, associates and colleagues who made crucial contributions to the work."
It is rare for foreign citizens to be honoured with knighthoods.
Such individuals do not use the style 'Sir', but are often called 'Sir' in popular parlance, such as 'Sir Garfield Sobers' in the case of the legendary West Indies cricketer