He was appointed as Crossrail chairman in 2009 and chair of the HS2 College Governing Body in 2015.
Last year he was appointed by the Government to lead the development of a transport infrastructure skills strategy.
Transport secretary Patrick McLoughlin said: “I am delighted that Terry Morgan has been honoured for all the extraordinary work he has done in overseeing the delivery of the Crossrail project and developing the Government’s Transport infrastructure skills strategy.
“By placing engineering skills development at the heart of Crossrail he has shown that delivering huge infrastructure projects on time and on budget and investing in skills go hand in hand.
“As a former apprentice himself, Sir Terry has inspired a new generation of apprentices and encouraged more women and young people into this vital sector, whatever their background and aspirations.
“He has been both a leader to his peers across industry and a relentless champion for vocational skills. This honour is a well deserved recognition for many years of hard work.”