The former managing director of the Glasgow football club was named a Commander of the Order of the British Empire (CBE) in the New Year Honours list.
McCann was recognised for his services to the economy and charity.
The businessman, born in Kilsyth, led a takeover of Celtic in 1994 and is credited with rescuing the club from financial collapse.
He said: “It shows the importance of Celtic to people across the UK and elsewhere.
“I see it as recognition of the club’s supporters who backed it so strongly during my time and since then to make it the driving force in Scottish football, and a financial success in the Glasgow economy with top quality leadership and 1000 great employees.
“And it is national recognition of the work of the club’s charitable foundation, backed by these same supporters who have funded its projects to make it a real help in the lives of thousands living on the margins.”
During his time at Celtic, McCann oversaw the redevelopment of Celtic Park into a 60,000-capacity all-seater stadium.
He also played a key role in modernising the club’s operations.
McCann returned to live in North America five years later.
He is one of several figures connected to the club to have been recognised in this year’s honours list.
Jim Craig, a former Celtic full-back, was also awarded an OBE for services to Scottish football and charity.
Craig joined Celtic as an amateur from Glasgow University Football Club while studying to become a dentist and went on to win 15 major trophies with the club.
He won the 1967 European Cup.
Craig said: “I am highly delighted and humbled to receive my OBE in recognition of my services to Scottish football and charity.
“My sincere thanks to those who supported this award and my continued love to all the supporters worldwide and thanks to the board, management, backroom staff and the players.”
Now 82, Craig continues to work with Celtic as a club ambassador.
