The Strictly Come Dancing presenter has finally been made a 'Sir' after a career in the entertainment industry spanning nearly 70 years.
Colin Firth, Bernard Cribbins, Bryan Ferry and ex-EastEnders actress Brooke Kinsella are also among the names honoured in the annual list.
Forsyth, who was made an OBE in 1998 and a CBE in 2005, said that he was "so happy and so relieved" to have been recognised.
"When I got the CBE there'd been speculation every year and I think there's been too much talk about it, so I'm thrilled at last it has happened," he told BBC News.
"I feel very proud that my career hasn't been in vain. I just love getting out there and performing and this is a reward that I never expected and hope I'm worthy of."
The former Generation Game host went on to joke: "We were doubtful because [the speculation's] been going on so long; we thought it might be a hoax so we did check all the way down the line that it was real."
The King's Speech lead Firth was awarded with a CBE following his 'Best Actor' victory at this year's Oscars, while Doctor Who star Cribbins has been made an OBE.
Roxy Music frontman Ferry has been honoured with a CBE, and Kinsella - best known for playing EastEnders' Kelly Taylor - was given an MBE for her campaign work against knife crime.
There was also recognition for Goodies comics Tim Brooke-Taylor and Graeme Garden, Radio 2 DJ Bob Harris, and BBC Radio 4 presenter Jenni Murray, who is made a dame.
Click through the gallery below to see those honoured on this year's list.