Gibb, who rose to global fame as co-founder and frontman of one of the most successful groups of all time, dedicated the honour to his late brothers and former bandmates, and said he was "deeply honoured, humbled, and very proud".
"This is a moment to be treasured and never forgotten," he added. "I want to acknowledge how responsible my brothers are for this honour. It is as much theirs as it is mine."
His knighthood follows a triumphant set for the Legend Slot at 2017's Glastonbury Festival, where he performed classic hits such as "Stayin' Alive", "Tragedy" and "Night Fever".
Starr was honoured for his contributions to music 52 years after he received an MBE as part of the 'Fab Four'. The former Beatles' member's bandmate Sir Paul McCartney was appointed a knight in 1997.
Also among the entertainment figures receiving honours were Strictly Come Dancing judge Darcey Bussell, 48, who said she was “truly humbled” to become a dame for services to dance.
War Horse author Michael Morpurgo was awarded a knighthood for services to literature and charity. The 74-year-old said Joey, the title character from his acclaimed 1982 children's book, was to thank for the accolade.
“There was never a knight that has owed so much to his horse as this one - and in fact, we will give the knighthood to Joey and call him Sir Joey," Morpurgo said.
Additional reporting by Press Association
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