The 32-year-old, who hails from Western Australia, has been an ever-present in F1 since 2011, racking up 210 grand prix starts for the HRT, Toro Rosso, Red Bull, Renault and McLaren outfits.
He will become the 15th most-experienced driver in F1 history when he starts the 2022 season-opening Bahrain Grand Prix and is set to become Australia's most experienced F1 racer at May's Spanish Grand Prix, surpassing Mark Webber's tally of 215 starts.
Ricciardo, who scored his eighth grand prix victory at Monza last year, currently ranks as the fourth most successful Australian in terms of F1 wins behind three-time world champion Jack Brabham (14), 1980 world champion Alan Jones (12) and Webber (9).
Ricciardo was appointed a Member of the Order of Australia (AM) for "significant service to motorsport as a competitor and ambassador, and to the community".
The announcement of his appointment recognises both his sporting achievements and his string of charitable affiliations, including the grassroots Ricciardo's Racers programme run by Motorsport Australia.
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In an Instagram post, the McLaren driver wrote: "Just happy flying the flag for Australia. Really appreciate the recognition. You can take the boy out of Oz but you can’t… anyway haha big thanks to everyone."
Ricciardo joins Webber, Brabham, Dakar motorcycle ace Toby Price - who received a Medal of the Order of Australia (OAM) this time last year - plus Supercars legends Craig Lowndes, Mark Skaife and Peter Brock in the Order of Australia system.
Joining Ricciardo on this year's list were other sporting stars such as tennis star Dylan Alcott, who was appointed an Office of the Order of Australia (AO) and also named Australian of the Year, basketballer Patty Mills (AM), and footballer Sam Kerr (OAM).
Ricciardo was one of seven people included in the 2022 honours for reasons related to motorsport.
Terence Bracken and Leslie Power received OAMs for "service to the motorsport industry", while Ian Tate was recognised with an OAM for "service to historic motorsports".
Kay De Luca and the late Anthony De Luca were honoured with OAMs for "service to motoring clubs, and to the community", with another OAM going to Ian Digby for "service to the community, and to the motor industry".
