Sir Paul McCartney has been made a Companion of Honour in the Queen's Birthday Honours list.
Twenty years after he was knighted by the Queen, Sir Paul has been bumped up the honours list for services to music.
Former Liverpool boxer John Conteh, 66, is also being honoured with an MBE for services to boxing.
The former world light-heavyweight champion who held the title between 1974 and 1978 expressed surprise and said "it's an absolute privilege".
"I never even thought about the possibility of getting an honour - where I grew up the only letters you got were from the DHSS," he said.
He remains a respected figure in the sport for his charity work and his involvement with the London ex-Boxers' Association.
Conteh, who began boxing at the age of 10, added: "Here I am today, still involved in the sport and with all these letters after my name. I've got the WBC and now I've got the MBE - how much more could I possibly want?"
Sir Paul, who was knighted in the Queen's 1997 New Year Honours, will now be able to wear the initials CH after his name.
Founded in 1917, the Order of the Companions Honour is awarded for service of conspicuous national importance and is limited to 65 people.
The man who, with John Lennon, wrote some of the most popular songs in history has had the most successful solo musical career of The Beatles and is now treated as rock royalty.
Other Merseyside appointments include Angela Paget, formerly head teacher at St Bede's Catholic Junior School in Widnes who is appointed OBE.
Prof Anthony Colin Fisher, from Royal Liverpool University Hospital, becomes an MBE for services to medical physics while Richard Michael Twemlow becomes an MBE for services to scouting in Wirral.
Police detective Tracy O'Hara, a leading figure in Merseyside police's gay and lesbian support network, has received the Queen's Police Medal.