Ben Wallace, alongside fellow MP Tobias Ellwood, has been made a member of the Privy Council.
Mr Ellwood tried to resuscitate the police officer stabbed by the attacker, while Mr Wallace was involved in the Government’s response.
Mr Wallace, is a security minister at the Home Office and Mr Ellwood is a counterterrorism minister and former army officer, who serves as MP for Bournemouth East.
The attacker killed four people, including PC Keith Palmer, who was guarding the Houses of Parliament.
The MPs will now be addressed at “Right Honourable” in Parliament.
The Privy Council post is largely ceremonial. Members are appointed by the Queen for the rest of their lifetime on the advice of the Prime Minister.
Downing Street said: “The Queen has been pleased to approve the appointment of Tobias Ellwood MP and Ben Wallace MP as members of Her Majesty’s Most Honourable Privy Council.”