"This is a wonderful honour and a huge privilege; my family and I are very excited by the news," Brooking told The Press Association.
"My whole life has been about sport - as a footballer, as a broadcaster and as an administrator.
"The only sad thing is that my mum and dad passed away in 1997 and 1998.
"I am from an old East End family and they would have been chuffed to bits by this. It was not something we could ever have envisaged when I was growing up.
"They had a big influence on my life, gave me a lot of encouragement and taught me right from wrong.
"This would have meant so much to them.
"When you look at some of the other people from football who have been knighted, I feel privileged to be in the same company; there are some great names there, but I am also conscious that the honour is really for my Sport England work."