Mr Lightyear, formerly Sam Stephens, had changed his name by deed poll but said the DVLA would not honour his request, citing reputational damage.
The 26-year-old from Devon, who also has a tattoo of the character, said he had now been issued with a new licence.
The DVLA said a "range of evidence" was needed with the application.
The spokesman said: "We recognise people may choose to change their name for many reasons. The driving licence is an important official document which is used both here and abroad.
"That is why we look for a range of evidence to support the application before we update our records."
Mr Lightyear said he wanted to do "the most outrageous thing" possible to raise money for the children's cancer charity CLIC Sargent, and chose the Buzz Lightyear theme because Toy Story was his favourite childhood film.
As part of his fundraising campaign, Mr Lightyear got a tattoo on his leg, ran the Brighton marathon in April 2015 and signed the deed poll on the finishing line when he reached his target of Â£2,000.
"Cancer's not the greatest thing and in children it's horrible", he said.
He said his original application to change his driving licence was rejected in May 2015, despite having sent the DVLA his legal paperwork.
The electrical wholesale manager described how his new name meant he had struggled to book tables at restaurants, and had had online shopping orders cancelled, but would still do another "name-changing fundraiser".
"I'm not married yet - I am looking for Mrs Lightyear", he said
A man who changed his name to Buzz Lightyear for charity has won a battle with the DVLA to have a driving licence in his new name.