Tim Brooke-Taylor has received an OBE for his services to entertainment, following in the footsteps of fellow Goodies Bill Oddie and Graeme Garden.
"We can now all three sit on our bike together with our OBEs," he said, referring to the three-seater bicycle they rode in the 70s comedy show.
Artist Gillian Wearing was also at Buckingham Palace to collect her OBE.
The 1997 Turner Prize winner said: "It's rare for an artist to be recognised... so it's a real honour."
Known for her work as a conceptual video artist, Wearing's most recent film was the feature-length piece Self Made, which merges the real and imaginary lives of seven members of the public.
Her work typically combines art and film to highlight the conflict between established behaviour and what people do on impulse.
One of the artist's Turner Prize-winning pieces was 60 Minutes Silence - in which 26 police officers are shown trying to remain still for an hour.
Brooke-Taylor, a regular panellist on I'm Sorry I Haven't A Clue on BBC Radio 4, has a career in entertainment spanning 47 years.
He remains best-known for The Goodies, an anarchic, visually-inventive comedy show which ran for more than a decade, but was also a regular on the TV series Marty and the animated children's series Bananaman, among others.
Speaking to reporters after receiving the honour from the Prince of Wales, he admitted "one had to bite one's tongue", having often poked fun at the ease with which honours were handed out in the 1970s.