The 25-year-old Scottish star was one of a galaxy of sporting heroes and heroines to receive honours as part of a special list paying special tribute to British athletes who excelled at the London Olympics and Paralympics in a memorable year for British sporting highs.
Murray said in a statement on his website: "It is with incredible pride that I have been named in the New Year's Honours List to receive an OBE from Her Majesty the Queen for services to sport.
"This has been an amazing year for British sport and I am proud to have been able to play my part.
"I reached my first Wimbledon final, competed and won gold at the London 2012 Olympics with Team GB at Wimbledon and then won my first Grand Slam title at the US Open.
"Being recognised in such a way at the end of such a great season is the finishing touch on 2012. Thank you all for your support - and here's to 2013."
Murray went into the Olympics still looking to win one of tennis's biggest titles after falling just short at Wimbledon in July. He reached the final for the first time, ending a 74-year wait for a home men's singles finalist, but was beaten in four sets by Roger Federer, his devastation clear for all to see as he sobbed his way through a post-match interview.
Murray reacted in superb fashion, though, beating world No 1 Novak Djokovic to guarantee himself a first Olympic medal and then handing Federer his worst defeat on grass to clinch gold in the men's singles on Wimbledon's Centre Court.
Murray almost made it two gold medals on the same day, but had to settle for silver in the mixed doubles with Laura Robson.
The hope was the success would spur him on to break his Grand Slam duck, and he did just that at the first opportunity by winning the US Open in New York, ending Fred Perry's 76-year reign as Britain's last male Grand Slam singles champion.
The Wimbledon final was the fourth Slam showpiece Murray had lost, but he matched coach Ivan Lendl in winning at the fifth time of asking with a five-set victory over Djokovic. Murray revealed after his triumph that his friends had been teasing him about the possibility of a knighthood – something he definitely was not expecting.
The world No 3 said: "My friends have been messaging me about it and I don't really know what to say. I think it should take more than one or two good tournaments to deserve something like that. It would be a bit rash."
The OBE is the first honour received by Murray, who survived the school shooting in his home town of Dunblane when he was eight.