Sir Terence Conran has been granted the honorary freedom of the Borough of Southwark in recognition of his role in the regeneration of Butler's Wharf at Shad Thames.
Southwark Council leader Peter John put Sir Terence forward for the honour which was announced on Saturday during a ceremony at Southwark Cathedral.
The commemorative scroll was collected by Sebastian Conran on behalf of his father.
Sir Terence was the founder of the Design Museum which leaves Shad Thames next month for its new home in Kensington.
He led the wider redevelopment of Butler's Wharf in the late 1980s and early 1990s, and opened restaurants such as Le Pont de la Tour and Cantina del Ponte.
The citation for Sir Terence's award, delivered by Michael Cleere, included these words: "His pioneering role in the regeneration of the north of Southwark has demonstrated that regeneration can involve the refurbishment and renewal of existing buildings as well as demolition and rebuild.
"His vision for the north of this borough has inspired businesses and residents alike."
Sir Terence is also the founder of the Albion restaurant group which has a branch at Neo Bankside.
Nine years ago he received an honorary doctorate from London South Bank University.
The famous designer was one of four recipients of the freedom of the borough on Saturday.
Also honoured were past mayor Sam King MBE, actress and Camberwell resident Jenny Agutter and the Camberwell squadron of the Air Training Corps.
The Freedom of the London Borough of Southwark was last awarded in 2012.
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