Welsh Rugby Union chairman Gareth Davies says Gareth Edwards' knighthood is fantastic news.
Former Wales and British and Irish Lions scrum-half Edwards was knighted in the Queen's Birthday Honours for services to sport and for charitable services.
Davies believes many people would consider the award to be overdue.
"I think the majority of Wales thinks he should have had it before now. I was very happy to hear the news," he said.
Edwards, 67, played 53 times for Wales, scoring 20 tries and winning three Five Nations Grand Slams.
He was a key member of the Lions teams that won Test series against New Zealand in 1971 and South Africa in 1974.
Davies, who like Edwards played club rugby for Cardiff and captained Wales, added that Edwards had done much to promote Wales since his retirement as a player in 1978.
"It's a great credit, he's obviously a great ambassador for Wales apart from being a great rugby player - THE greatest probably - and he's obviously continued to be Gareth Edwards representing Wales across the world," he added.
"I sent a text to him on Friday and he came back to me saying he might buy me a pint for it - we'll see."
In addition to his exploits for Wales, Cardiff and the Lions, Edwards scored the most famous try in the history of the sport - for the Barbarians against New Zealand at Cardiff Arms Park in 1973.