He is one of a number of individuals working in the financial sector who have been honoured.
Mr Woolard was interim CEO for six months after Andrew Bailey left to become Governor of the Bank of England.
Mr Woolard stepped down from the FCA board and executive from October. He is now chairing a review of the future regulation of the unsecured credit market. He joined the FCA executive committee in 2013 and the board in 2015.
Mr Woolard’s citation says he was honoured for, “services to financial regulation and financial technology innovation.”
Among others to be honoured in the financial sector were CBE recipient Helen Dean, CEO of auto-enrolment firm Nest Corporation (for services to pension saving) and Kenneth Robertson, digital director of the Department for Work and Pensions for “services to Government Technology” who is made a Companion of the Order of the Bath (CB).
Vivienne Artz, chief privacy Officer at Refinitiv and President, Women in Banking and Finance, received an OBE for "services to financial services and gender diversity."
Robert Chote, chairman of the Office for Budget Responsibility, has been knighted. Labour MP Angela Eagle, the MP for Wallasey and a former shadow business secretary, was made a Dame.
Nwamaka Carol Akiwumi, founder and chief executive officer, Money4You, was awarded an MBE for "services to financial education during Covid-19."
Katie Spencer, senior manager at Lloyds Banking Group also received an MBE for "services to the financial services sector during Covid-19."
Sarah Wallace, programme director of Just Finance Foundation, received an MBE "for services to financial education."
This year’s New Year Honours saw a total 1,239 people honoured. Nearly half (49%) were women.
The Cabinet Office, which publishes the honours, said 14.2% of successful candidates were from a black or minority ethnic (BAME) background, 6.9% had a disability and 4% identified as being LGBT+.
Some 803 (65%) of the recipients are people who have undertaken outstanding work in their communities either in a voluntary or paid capacity, the Cabinet Office said.
Other honours went to racing driver Lewis Hamilton, who was knighted, actress Shelia Hancock, who was made a Dame, singer Craig David, who was made an MBE and several supermarket executives and charity workers for their work during the pandemic.