The 32-year-old called the honour the "ultimate accolade", adding he felt it was acknowledgment not only of his achievements in 2012 but over the past 12 years.
"I never ever imagined that I would ever become a knight, so it's an incredible honour," said Wiggins. "But there's a slight element of disbelief and it will take a while to sink in."
The four-time Olympic champion said it would also add to his appeal amongst his French fans.
"They will love it," he said. "It will add to the myth. I will have to get a bowler hat as well. They are fascinated slightly with our Britishness, our culture and things like knighthoods, so it is a nice thing to have."
claimed four cycling golds at the London Paralympics to add to the two she won at the 2008 Games in Beijing.
Speaking about her award, she said: "It's an incredible feeling. It's hard to put into words other than just it is the greatest honour."
Four knights and one dame
For services to sailing.
For services to cycling and the London 2012 Olympic and Paralympic Games.
For services to para-cycling.
For services to rowing and the London 2012 Olympic and Paralympic Games.
For services to cycling.
Before switching to para-cycling,
won five Paralympic golds in the swimming pool. She claimed two at Barcelona in 1992 and then three at the 1996 Games in Atlanta.
Her 11 Paralympic titles are only matched by legendary wheelchair athlete Baroness Grey-Thompson and swimmer Dave Roberts. Her collection of 22 medals of all colours is unsurpassed.
"We feel so fortunate that 2012 will always stand out as being the most incredible year," said 35-year-old Storey, who is married to fellow Paralympic gold medallist Barney Storey.
Asked how she had reacted to hearing the news that she would become a dame, she replied: "We had a chuckle. It's unbelievable to think that that's my new title. It's a real honour. There is no other way to describe it."
who also masterminded Britain's dominance in cycling at the Olympics and Paralympics as well as helping Wiggins win the Tour as Team Sky boss, said it felt "weird" and "uncomfortable" to be knighted.
Dame Sarah Storey: "It's unbelievable to think that that's my new title"
"It is quite humbling and it really is something to try to get my head around," added the 48-year-old.
"I'm very lucky and aware that the sport of cycling has grown and that we have had great success because it is a team effort over a long, long period of time."
has more Olympic medals than any other sailor. After winning silver in Atlanta in 1996, he went on to take gold in Sydney, Athens, Beijing and London.
He is fourth in the list of Britain's all-time individual medallists behind Sir Chris Hoy (cycling: six gold, one silver), Sir Steve Redgrave (rowing: five gold, one bronze) and Wiggins (cycling: four gold, one silver, two bronze).
Britain won three medals at the 2000 Olympic Games in Sydney, four in Athens in 2004, and six at Beijing 2008 before taking nine, including four gold, at London 2012.
who also won gold at the Games,
becomes an OBE. After his men's singles victory at London 2012, the Scot became the first British man in 76 years to win a Grand Slam tournament when he triumphed at the US Open in September.
Others from the world of sport who are recognised for their contributions include former England cricketers
who are appointed MBEs. Former England cricket captain and Kent president
is given an OBE for services to sport, 37-and-a-half years after his last Test match.
Ex-Arsenal assistant manager
and former rugby league star
are also appointed MBEs.
Former Wales and Lions wing
also becomes an MBE for services to rugby and charity in Wales.
the joint-acting chairman of the Football Association, is appointed a CBE. He oversaw the building of the National Football Centre near Burton, which opened in October, and was chairman of Ipswich Town for 13 years from 1995 to 2008.
OLYMPIANS IN NEW YEAR HONOURS
Ben Ainslie - sailing; Bradley Wiggins - cycling
Katherine Grainger - rowing; Jessica Ennis - athletics; Mo Farah - athletics; Victoria Pendleton - cycling.
Charlotte Dujardin - equestrian; Jason Kenny - cycling; Andy Murray - tennis; Laura Trott - cycling.
Nicola Adams - boxing; Tim Baillie - canoeing; Laura Bechtolsheimer - equestrian; Scott Brash - equestrian; Alistair Brownlee - triathlon; Steven Burke - cycling; Luke Campbell - boxing; Peter Charles - equestrian; Katherine Copeland - rowing; Helen Glover - rowing; Alex Gregory - rowing; Carl Hester - equestrian; Philip Hindes - cycling; Sophie Hosking - rowing; Jade Jones - taekwondo; Anthony Joshua - boxing; Peter Kennaugh - cycling; Dani King - cycling; Mary King - equestrian; Ben Maher - equestrian; Ed McKeever - canoeing; Joanna Rowsell - cycling; Greg Rutherford - athletics; Louis Smith - gymnastics; Heather Stanning - rowing; Etienne Stott - canoeing; Anna Watkins - rowing; Peter Wilson - shooting.
PARALYMPIANS IN NEW YEAR HONOURS
Sarah Storey - cycling.
David Weir - athletics.
Sophie Christiansen - equestrian; Ellie Simmonds - swimming.
Jessica-Jane Applegate - swimming; Natasha Baker - equestrian; Danielle Brown - archery; Mickey Bushell - athletics; Hannah Cockroft - athletics; Mark Colbourne - cycling; Josef Craig - swimming; Deborah Criddle - equestrian; Aled Davies - athletics; Neil Fachie - cycling; Jonathan Fox - swimming; Heather Frederiksen - swimming; Oliver Hynd - swimming; Helena Lucas - sailing; Craig MacLean - cycling; Nigel Murray - boccia; Jonnie Peacock - athletics; Josie Pearson - athletics; Pam Relph - rowing; Naomi Riches - rowing; James Roe - rowing; David Smith - rowing; Lily van den Broecke - rowing; Sophie Wells - equestrian; Richard Whitehead - athletics.
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