The rower, who won the Editor's Award at last month's Evening Times Scotswoman of the Year ceremony, was recognised with a CBE for a memorable 2012 which saw her finally win Olympic gold.
Katherine, the only British woman to win medals in four consecutive Olympic Games, was made a CBE in the New Year Honours list after she won a gold medal with Anna Watkins in the double sculls at the London Olympics.
The 37-year-old, who was presented with the honour by Princess Anne, said: "I thought that the gold medal meant everything but this is the icing on the cake.
"The Olympic medal is something you train for and it is realistic that you can get it but something like this is bestowed on you and it is a great honour to get it."
Katherine has not yet announced whether she will try to compete at the Rio 2016 Olympics. She said: "I have not made any decision yet."
Four-time Olympic sailing champion Ben Ainslie was knighted at the ceremony.