Pete Waterman has collected an OBE from the Queen at Buckingham Palace.
The 58-year-old was honoured for services to music.
Coventry-born Waterman was instrumental in launching the music careers of Kylie Minogue and Jason Donovan in the 1980s.
"The Queen asked me about the songs - I was quite shocked she knew them," he said on Wednesday.
The producer, songwriter and DJ, who left school unable to read, added he was pleased the music industry had been recognised.
The multi-millionaire said: "All I ever wanted to do was earn more than £15 a week."
With his colleagues Waterman created 200 hit singles on their PWL record label. Among the hits they masterminded were I Should Be So Lucky - Minogue's debut hit - Rick Astley's Never Gonna Give You Up and Venus by Banarama.
Waterman also played a large role in the production of STEPS, appearing in their video to 'Tragedy'.
Waterman previously said he was "shocked, staggered and speechless" to be named in the New Year's Honours list.
Waterman recently revived his popularity as a judge on Pop Idol and Popstars: The Rivals. His clashes with fellow judge Simon Cowell boosted ratings for the ITV series.
Waterman said: "Simon was delighted when I was awarded an OBE - he was one of the people who put my name forward. We're really great friends."
In the second Popstars series, he was charged with landing new group One True Voice the Christmas number one in 2002, but they were beaten by female quintet Girls Aloud and split up just months later.