Mrs Laing, who has been Member of Parliament for Epping Forest for 21 years, said the news came as an "amazing surprise".
Mrs Laing was a Shadow Minister for 12 years and has been a Deputy Speaker for the last four-and-a-half years.
She was appointed a member of the Privy Council, the formal body of advisers to the Queen, last November.
Commenting on her Damehood - announced in the Honours List which was officially published late last night, Mrs Laing said: "This is an amazing surprise but I am absolutely delighted.
"It has been a great honour to serve the people of Epping Forest for so many years, and to be able to continue to serve them as their Member of Parliament."