Chief of the General Staff General Sir Mark Carleton-Smith made the appointment, which has been approved by the Queen, in order to inspire the next generation of soldiers.
As honorary colonel, he will be invited to speak to junior soldiers at Harrogate, where 16 and 17-year-olds are trained and educated to be future Army leaders, ensuring his example is passed on to the next generation of soldiers.
Captain Tom was informed of the promotion in a letter presented by Lieutenant Colonel Thomas Miller, the commanding officer of the 1st Battalion The Yorkshire Regiment at his home in Bedfordshire.
The veteran, who was born in Keighley, served with the 8th Battalion The Duke of Wellington’s (West Riding) Regiment, which is now part of The Yorkshire Regiment.
Captain Tom set out to raise £1,000 for the NHS and his fundraising has captured the nation’s heart during the coronavirus lockdown.
His centenary is being marked by two military flypasts, while a GWR intercity express train has been named in his honour.
Well-wishers have also sent him more than 125,000 birthday cards and he has been presented with a replacement Second World War Defence Medal.