The Olympians join more than 1,000 other people who have done exceptional things to help inspire others this year.
They have been nominated for the Queen's New Year Honours list - a special list which helps to recognise the people who made a difference to their community, or were amazing at what they do for a job.
This year the list is full of some of Britain's top sporting heroes who competed in the Olympics and Paralympics.
Athletes such as Laura Kenny - the country's most successful female Olympian - and husband Jason have both been awarded a CBE for their services to cycling.
Other MBE winners include the whole women's GB gold medal-winning hockey team, swimmer Adam Peaty, Gymnast Max Whitlock, boxer Nicola Adams, wheelchair tennis champion Gordon Reid and para-athlete Kadeena Cox.
As well as sports, people from the entertainment and fashion industry have also been recognised for their contributions, such as Victoria Beckham,
Scientists and medical professionals have also received recognition for some of their brilliant work this year.
One of the youngest winners this year was 17-year-old Jeremiah Emmanuel, who has been awarded the British Empire Medal for his work volunteering in his community.
He said: "I think it's so important for young people to have a voice. We are the future and I think a lot of people forget that sometimes, especially when it comes to working on the things that affect us from politics [in] our everyday lives.
"So hopefully a 17-year-old receiving a Queen's honour can be an inspiration to other young people to wake up and say, 'Today I can bring a change in my community.'"
Olympic heroes Andy Murray, Jess Ennis-Hill and Mo Farah are being given a special award by the Queen.