The former X Factor judge attended Southampton Solent University for a ceremony on board the HQS Wellington on Monday, where, dressed in a traditional red doctorate gown and red heels, she received her accolade.
'I can't even breathe at the moment, I'm very honoured,' she told The Mirror.
'I have an incredible amount of respect for the media industry. For me, it's all I've ever had.'
The university's chancellor, Admiral the Lord West of Spithead, praised the Australia's Got Talent judge for giving young people someone positive to look up to.
'Dannii is a wonderful role model for the youngsters there and she ticks all the boxes. I know her parents will be very proud,' he said.
Meanwhile Dannii insisted that she hasn't been watching this year's UK X Factor, the first since she left, and so couldn't comment on reported feuds between judges Gary Barlow, Kelly Rowland, Tulisa and Louis Walsh.
'I haven't watched this series so all I know is what's in the papers. I haven't been talking to Simon [Cowell] or the other judges,' she said.
'I'm meeting Louis later on today. He's the one to ask.'
Asked if she would ever consider making a return, she replied, 'That's a very hypothetical question.'